The probabilities of high, medium and low demand for a new product are 20%, 50% and 30%,

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The probabilities of high, medium and low demand for a new product are 20%, 50% and 30%, respectively. The profit under high demand is $60 million and the profit under low demand is $40 million. What would the profit under medium demand need to be so that the expected profit is $50 million

Posted Date: May 19, 2024 05:04 PM

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The probabilities of high, medium and low demand for a new product are 20%, 50% and 30%,

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