Question: Problem 4-11 (Algorithmic) Following is the payoff table for the Pittsburgh Development Corporation (PDC) Condominium Project. Amounts are in millions of dollars. ( S1) and

Problem 4-11 (Algorithmic) Following is the

Problem 4-11 (Algorithmic) Following is the payoff table for the Pittsburgh Development Corporation (PDC) Condominium Project. Amounts are in millions of dollars. ( S1) and a corresponding probability of 0.19 that demand will be weak (S2). Assume the decision alternative to build the large condominium complex was found to be optimal using the expected value demand was greater than or equal to $16.58 million and as long as the payoff for the weak demand was greater than or equal to $17.32 million. decimal places. The payoff for the medium complex under strong demand remains less than or equal to $ million, the large complex remains the best decision. places. The payoff for the small complex under strong demand remains less than or equal to $ million, the large complex remains the best decision

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