Question: A manager, is trying to decide whether to hire one, two, or three specialists. He estimates that profits next year (in thousands of dollars) will

A manager, is trying to decide whether to hire

A manager, is trying to decide whether to hire one, two, or three specialists. He estimates that profits next year (in thousands of dollars) will vary with demand for his consulting services as follows: DEMAND NUMBER OF CONSULTANTS LOW MEDIUM HIGH One 50 75 100 Two 0 100 100 Three -100 70 300 If he feels the chances of low, medium, and high demand are 50%, 20%, and 30%, respectively, what are expected profits for the alternative he will select? Select one: a. $70,000 b. $54,000 c. $135,000 d. $80,000 e. $65,000

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