Question: I need urgent help solving this problem, please show me how to solve this problem in excel ASAP! Best answer guaranteed a thumbs up! A

I need urgent help solving this problem, please show me how to solve this problem in excel ASAP! Best answer guaranteed a thumbs up!

I need urgent help solving this problem, please

A company is considering entering a new market channel. The alternatives under consideration include developing another domestic market, moving into an international market, catalog sales, and internet sales. The potential return for each channel depends on various factors like GDP, etc., and the annual revenue is predicted as shown in the table for each channel as a function of the market. The annualized cost to develop each channel is provided in the last column. The marketing department estimates the probabilities of these outcomes to be 30%, 50%, and 20%, respectively. A. Based on annual profit, which decision would be made using: Minimax? MaxiMin? Equally likely? Expected value? B. Use a decision tree to model the annual profit decision and determine which decision alternative maximizes the expected profit. (use the P(Mkt outcomes) C. What is the expected value of perfect information for this scenario? (hint: if you knew in advance what market outcome was going to result, how much would you pay?) Enter any descriptive discussion you require in this box (it will expand as needed) Cost (Smillion) Alternative Domestic Market outcome in $ million) Successful Marginal Poor $1.20 $0.75 $0.30 $0.90 $0.70 $0.15 $0.70 $0.60 $0.40 $1.35 $0.60 $0.20 International $0.40 $0.20 $0.15 Catalog Internet $0.25 P(market outcome) 30% 50% 20%

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