Mini-Case Your company is considering the development of a new product. Your boss, impressed with your knowledge of decision analysis, has provided you with the following assessments: Variable Units Low Base High Volume 000s 18 25 37 Price $/unit 2.25 4.50 5.00 Cost $/unit 2.00 2.50 3.50 Profit (000s $) = Volume * (Price - Cost) a. What is the definition of the Low, Base, and High assessments (as presented in class and your case study)?

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In decision analysis and sensitivity analysis the low base and high assessments represent different ... View the full answer