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QUESTION
A newly formed market research firm has to decide on a system for data analysis and forecasting. Three options are available: leasing a large system,...
A newly formed market research firm has to decide on a system for data analysis and forecasting. Three options are available:
L : leasing a large system, M: leasing a medium-sized system, S : leasing a small systemThe estimated payoffs from these systems depend on the overall demand for the firm's services in the market place. Demand may be classified as high (H) or poor (P). The payoffs from each of the systems under these possible outcomes are summarized in the table below:
