What is the difference between trade license and company registration certificate?
a company are considering the lunch a new product the Gamma
Varions prior estimates the outcomes have been made as follows and
expected values calculated
market state probability profit/loss expected value
Good 0.2 60,000 12,000
Average 06 40,000 24,000
Bad 0.2 40,000 8,000
in order to have more information on which to base their
Decision the management are considering whether to commission a
market research survey at a cost of 1000. market state Good Average
Bad
Good 60% 30% -
Average 40% 50% 10%
Bad - 20% 90%