Question: The construction manager for Acme Construction, Inc. must decide whether to build single family homes, apartments, or condominiums. He assumes that the probability of the

The construction manager for Acme Construction,

The construction manager for Acme Construction, Inc. must decide whether to build single family homes, apartments, or condominiums. He assumes that the probability of the population growing is 60%. This is not a product-mix problem, but an all-or-nothing decision. He will hire workers and rent equipment appropriate for one action only. He estimates annual profits will vary with population trends as follows: Dwelling tyre Population steady Population growing Single family 102 88 Apartments 154 Condominiums -21 What is the EMV of the best alternative? Don't round your probabilities or your intermediate calculations

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