Parts study use and how 40 manu 1. Case study on decision theory You are having being lotet dignificant marketing team has normed that there are market for the have decided to try this post in that we sure ladies will preferather jackets in de wethou have decided to order leather for winter on the other Jackets will be sold for 100 Anywhethe winter belos ench. There are three tives to which one 60 There is a demandas 30.500 Att decide on each action and state of Nature de pe furmat given below This decision making wilayout by shortage A State Demand 10 Demand Buy 30 500 Buy 50 yo Part 1 - case study (3 cases - case 1 and 2 have 15 marks each case 3 has 10 marks - total 40 marks) 1. Case study on decision theory You are having a boutique selling latest designs of fashion according to season. Your marketing team has informed that there is a large market for ladies leather jackets. You have decided to try this product in Bahraini market but at low scale because you are not sure ladies will prefer leather jackets in moderate winter weather of Bahrain. Therefore you have decided to order leather jackets for winter season at the price of B070 each. The jackets will be sold for BD100 each. Any jacket left over at the end of the winter season can be sold at BD50 each. There are three alternatives to decide which one is the best - buy 40, 60 or 80 jackets. There are three possible states of nature - demand is 30, 50 or 70 jacket, After deciding on each action and state of nature, calculate and create a payoff table as per format given below. This decision making will maximize your profit by avoiding access or shortage of stock. Alternativ es State of nature Demand 40 Demand 60 Demand 80 Buy 30 900 Buy 50 Buy 70