Question: 2. Reconsider the problem in Question 1. Suppose that the prots {in thousands of dollars) are uncertain. For Battle Pacic: 0 When demand is high,

2. Reconsider the problem in Question 1. Suppose that the prots {in thousands of dollars) are uncertain. For Battle Pacic: 0 When demand is high, the prot is normally distributed with mean 1000 and standard deviation 100. 0 When demand is medium, the prot is normally distributed with mean 3'00 and standard deviation 3'0. 0 When demand is low, the prot is normally distributed with mean 300 and standard deviation 30. For Space Pirates with com peon: - When demand is high, the prot is normally distributed with mean 800 and standard deviaon 80. 0 When demand is medium, the prot is normally distributed with mean 400 and standard deviation 410. 0 When demand is low, the prot is normally distributed with mean 200 and standard deviation 20. For Space Pirates without competition: 0 When demand is high, the prot is normally distributed with mean 1600 and standard deviation 160. . When demand is medium, the prot is normally distributed with mean 800 and standard deviation 80. 0 When demand is low, the prot is normally distributed with mean 400 and standard deviation 4U. Incorporate this informaon to your decision tree. What is the probability that the expected prot will be less than $24000
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
