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Julie Is Planning to Open a Restaurant and Is Considering

Question 57

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Julie is planning to open a restaurant and is considering two possible locations.She has estimated the payoff for each location for each of three different possible levels of restaurant popularity (state of nature)as shown below. Julie is planning to open a restaurant and is considering two possible locations.She has estimated the payoff for each location for each of three different possible levels of restaurant popularity (state of nature)as shown below. The opportunity loss for Location 1 and Poor restaurant popularity is 150. The opportunity loss for Location 1 and Poor restaurant popularity is 150.

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