Question: Problem 2 . Deciding how large of a condo development to build. We're not sure what demand will be when the condos are finished. Following
Problem Deciding how large of a condo development to build. We're not sure what demand will be when the condos are finished. Following table shows the profit in millions as a function of market status. Strong Weak Small profit in $million Large We won't know what demand will be when we start construction. Our forecasts show that there's an chance demand will be strong. a What size development should we build? b What if the chance of a strong market is not right? c What if the in our table above tree changed
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