1. Sara is planning to start a new designer cloth shop. Her problem is to decide how large her shop should be. The annual returns will depend on both the size of her shop and a number of marketing factors related to the current market conditions and demand for designer wear. After a careful analysis, Sara came up with the following table: Size of Shop Good Market (R.O.) Fair Market (R.o.) Poor market (R.O.) Small Scale 1200 + a 2000 + b 400 + c Medium Scale 1500 + d 3000 + e 1800 + f Large Scale 2200 + a 3000 + b 2500 + c Very Large Scale 3000 + d 5000 + e 2000 +f What will be her decision based on ii. Optimistic approach Note: a = 8 b = 9 c = 5 d = 8 e =1 and f= 9

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1. Sara is planning to start a new designer cloth shop. Her problem is to decide how large her shop
should be. The annual returns will depend on both the size of her shop and a number of marketing
factors related to the current market conditions and demand for designer wear. After a careful
analysis, Sara came up with the following table:
Size of Shop
Good Market (R.o.)
Fair Market (R.o.)
Poor market (R.o.)
Small Scale
1200 + a
2000 + b
400 +c
Medium Scale
1500 + d
3000 + e
1800 +f
Large Scale
2200 + a
3000 + b
2500 + c
Very Large Scale
3000 + d
5000 + e
2000 + f
What will be her decision based on
ii. Optimistic approach
Note: a = 8 b = 9 c = 5 d = 8 e =1 and f= 9
Transcribed Image Text:1. Sara is planning to start a new designer cloth shop. Her problem is to decide how large her shop should be. The annual returns will depend on both the size of her shop and a number of marketing factors related to the current market conditions and demand for designer wear. After a careful analysis, Sara came up with the following table: Size of Shop Good Market (R.o.) Fair Market (R.o.) Poor market (R.o.) Small Scale 1200 + a 2000 + b 400 +c Medium Scale 1500 + d 3000 + e 1800 +f Large Scale 2200 + a 3000 + b 2500 + c Very Large Scale 3000 + d 5000 + e 2000 + f What will be her decision based on ii. Optimistic approach Note: a = 8 b = 9 c = 5 d = 8 e =1 and f= 9
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