Never, ever, ever buy something that you don't a. like b. need c. understand d. want

George retired from a local law firm and then volunteered to oversee a nonprofit's legal records. george is performing the duties of a:

How does a business determine the markup on a product or service? by matching the closest competitor by checking online prices by calculating the profit that will keep the business going by considering how much the product is worth to the consumer

Aplant manager is considering buying additional stamping machines to accommodate increasing demand. the alternatives are to buy 1 machine, 2 machines, or 3 machines. the profits realized under each alternative are a function of whether their bid for a recent defense contract is accepted or not. the payoff table below illustrates the profits realized (in $000's) based on the different scenarios faced by the manager. alternative bid accepted bid rejected buy 1 machine $10 $5 buy 2 machines $30 $4 buy 3 machines $40 $2 refer to the information above. assume that based on historical bids with the defense contractor, the plant manager believes that there is a 65% chance that the bid will be accepted and a 35% chance that the bid will be rejected. what is the expected value under perfect information (evpi)?