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A beverage stand can sell either softdrinks or coffee on any given day If the stand sells softdrinks and the weather is hot it will make P2500 if the weather is cold the profit will be P1000 If

A beverage stand can sell either softdrinks or coffee on any given day. If the stand sells softdrinks and the weather is hot, it will make P2,500; if the weather is cold, the profit will be P1,000. If the stand sells coffee and the weather is hot, it will make P1,900; if the weather is cold, the profit will
be P2,000. The probability of cold weather on a given day at this time is 60%. The expected payoff if the vendor has perfect information is
A. P3,900          C. P1,360
B. P2,200          D. P1,960

Jun 20 2021 View more View Less

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