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In choosing between three new jobs, Johan considers the potential payoffs over the next three years. The following table contains the payoffs, given the speed of promotion in each of the organizations. The probability of fast promotion is 0.6, and the probability of slow promotion is 0.4. Alternative Slow Promotion Fast Promotion A. High-flying consultant ($180,000) S200,000 S250,000 S600,000 B. Utility analyst $400,000 C. Research assistant What is the best alternative for Johan, given the matrix payoff? S260,000

In choosing between three new jobs, Johan considers the potential payoffs over the next three years. The following table contains the payoffs, given the speed of promotion in each of the organizations. The probability of fast promotion is 0.6, and the probability of slow promotion is 0.4. Alternative Slow Promotion Fast Promotion A. High-flying consultant ($180,000) S200,000 S250,000 S600,000 B. Utility analyst $400,000 C. Research assistant What is the best alternative for Johan, given the matrix payoff? S260,000

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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In choosing between three new jobs, Johan considers the potential payoffs over the next three years. The following table contains the payoffs, given the speed of promotion in each of the organizations. The probability of fast promotion is 0.6, and the probability of slow promotion is 0.4. Alternative Slow Promotion Fast Promotion A. High-Flying consultant ($180,000) S600,000 B. Utility analyst C. Research assistant What is the best alternative for Johan, given the matrix payoff? S200,000 5400,000 S250,000 S260,000
Transcribed Image Text:In choosing between three new jobs, Johan considers the potential payoffs over the next three years. The following table contains the payoffs, given the speed of promotion in each of the organizations. The probability of fast promotion is 0.6, and the probability of slow promotion is 0.4. Alternative Slow Promotion Fast Promotion A. High-Flying consultant ($180,000) S600,000 B. Utility analyst C. Research assistant What is the best alternative for Johan, given the matrix payoff? S200,000 5400,000 S250,000 S260,000
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