For which one of the following situations would Kendall’s tau be appropriate? a) The Mohs scale rates the hardness of minerals. If one mineral can scratch another, it is judged….
Construct a payoff table for this set of actions using net profit as the “payoff.”
Product introduction tree. Construct a decision tree for the payoff table in Exercise 12.
Product introduction. A small company has the technology to develop a new personal data assistant (PDA), but it worries about sales in the crowded market. They estimate that it will cost $600,000 to develop, launch, and market the product. Analysts have produced revenue estimates for three scenarios: If sales are high, they will sell $1.2M worth of the phones; if sales are moderate, they will sell $800,000 worth; and if sales are low, they will sell only $300,000 worth. Construct a payoff table for this set of actions using net profit as the “payoff.” Don’t forget the possible action of doing nothing.