A company plans to sell 360000 units per annum of a new product but they uncertain of the selling price per unit and a variable cost per unit. The marketing department has provided the estimates of demand and their associated probabilities for each possible selling price as well as estimates of variable costs and their associated probabilities. The estimates are as follows:

Selling price as well as estimates of variable costs and their associated probabilities.

Probability 30% 45% 25% Selling price R per unit 30 40 50 Variable costs and their respective probabilities: Unit variable cost R per unit 12 Probability 20% 50% 16 20 30% Fixed costs are estimated to be R 84 000 per annum. g12manths Calculate the probability of earning a monthly contribution of greater than R510 000. Required: (5 marks) Describe the attitude of a decision-makers who might choose the 'maximax; 'maximin' and the 'expected value' decision rules. (3 marks)