Question: A manager has compiled estimated profits for various capacity alternatives but is reluctant to assign probabilities to the states of nature. The payoff table is

A manager has compiled estimated profits for

A manager has compiled estimated profits for various capacity alternatives but is reluctant to assign probabilities to the states of nature. The payoff table is as follows: A STATE OF NATURE #1 #2 $ 26* 150 121 94 101 47 Alternative *Profit in $ thousands. b. Is there any alternative that would never be appropriate in terms of maximizing expected profit? O Alternative A O Alternative B O Alternative C O None c. For what range of P (2) would alternative A be the best choice if the goal is to maximize expected profit? Choose Alternative A if P#2) is(Click to select) d. For what range of P (1) would alternative A be the best choice if the goal is to maximize expected profit? Choose Alternative A if P#1) is (Click to select)

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