B.F. Retread, a tire manufacturer, wants to select one of three feasible prototype designs for a new tire; A, B, C.
Revenues
Low (0.30) Medium (0.50) High (0.20)
A 120,000 255,000 390,000
B 130,000 295,000 460,000
C 100,000 300,000 480,000
Required:
Calculate the highest value you would pay for a highly reliable forecast.