Multiple Choice
Nick has plans to open some pizza restaurants, but he is not sure how many to open.He has prepared a payoff table to help analyze the situation. 
As Nick does not know how his product will be received, he assumes that all three states of nature are equally likely to occur.If he uses the equally likely criterion, what decision would he make?
A) Open 1
B) Open 2
C) Good market
D) Fair market
Correct Answer:
Verified
Correct Answer:
Verified
Q63: A plant manager considers the operational cost
Q64: A company is considering expansion of its
Q65: The concessionaire for Carnegie Hall has developed
Q66: Pessimistic decision makers tend to<br>A)magnify favorable outcomes.<br>B)ignore
Q67: Nick has plans to open some pizza
Q69: The ABC Co.is considering a new consumer
Q70: The assignment of a utility value of
Q71: The following is a payoff table giving
Q72: A manager needs to hire short-term employees
Q73: A decision maker is assigning equal probabilities