Question: CanaSystems is considering a project to build upscale condominiums. They are considering plans on a small, medium, or large development and balancing possible future demand

CanaSystems is considering a project to build upscale condominiums. They are considering plans on a small, medium, or large development and balancing possible future demand as low or high. Profits have been estimated and are summarized in a payoff table.

Act State of Nature ($millions)

Low P(0.4) High P(0.6)

Small 6 11

Medium 5 13

Large 4 18

What is the expected value under conditions of certainty?

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