Answer to Question #316974 in Quantitative Methods for tilly

Question

Bob’s Bike Shop is considering three options for his facility next year. He can expand his current shop, move to a larger facility, or make no change. With a favourable market, the annual payoff would be $56000 if he expands, $70000 if he moves, and $30000 if he does nothing. With an average market, his payoff will be $21000, $35000, and $10000 respectively. With an unfavourable market, his payoff will be $-29000, $-45000, and $5000 respectively.

Answer 1

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