Suppose that there is a 60% probability that the product will be a success on the market (that means, the probability of failure is 40%). If the product is a success, you will get a profit of $200,000, and if it is a failure, you will incur a loss of $100,000. Should you develop this product? How do you make a decision in this situation? Also, how can one come up with the probability of success (or failure)? Share your ideas/thoughts with the other students and comment on theirs.

Subject | Mathematics |

Due By (Pacific Time) | 01/27/2013 12:00 am |

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