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Author Question: Answer the following questions using the information below: Patrick Ross has three booth rental ... (Read 147 times)

geodog55

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on: Mar 6, 2021
Answer the following questions using the information below:

Patrick Ross has three booth rental options at the county fair where he plans to sell his new product. The booth rental options are:



The product sells for $37.50 per unit. He is able to purchase the units for $12.50 each.


Which option should Patrick choose to maximize income assuming there is a 40% probability that 70 units will be sold and a 60% probability that 40 units will be sold?
◦ Option 1
◦ Option 2
◦ Option 3
◦ All options maximize income equally.
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Marked as best answer by geodog55 on Mar 6, 2021

cassie_ragen

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Reply #1 on: Mar 6, 2021
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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geodog55

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Reply 2 on: Mar 6, 2021
Excellent

peter

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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