Question: Pls ANSWER FAST only if 100% SURE Thumbs Up for right answer Quection 3 (8. marks): A docision maker may either expand the current facilities

Pls ANSWER FAST

only if 100% SURE

Thumbs Up for right answer

Quection 3 (8. marks): A docision maker may either expand the current facilities (decision d1 ) or not do anything (decision d). Management has deternined that three things may happen: either the demand for their product inereases (state of nature s), demand remains unchangod (s) or it decreases (s). The payoffs for all pairs of situations as well as the probabilities for the states of nature are given in the table below. (a) What should be the decision based on prior information only? (b) What is the maximum amount the marketing manager should be prepared to pay for any kind of (c) A marketing research firm offers its services. Its track record is shown in the table below, which specifies information? the conditional probabilities P(I/). Draw and analyze the complete decision tree for this problem. What is the maximal amount the manager should pay for the sample information? What is the company's efficiency

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