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Mary is considering opening a new grocery store in town. She is evaluating three sites: downtown, the mall, and out at the busy traffic circle. Mary cal- culated the value of successful stores at these loca- tions as follows: downtown, $250,000; the mall, $300,000; the circle, $400,000. Mary calculated the losses if unsuccessful to be $100,000 at either down- town or the mall and $200,000 at the circle. Mary figures her chance of success to be 50% downtown, 60% at the mall, and 75% at the traffic circle.

Mary is considering opening a new grocery store in town. She is evaluating three sites: downtown, the mall, and out at the busy traffic circle. Mary cal- culated the value of successful stores at these loca- tions as follows: downtown, $250,000; the mall, $300,000; the circle, $400,000. Mary calculated the losses if unsuccessful to be $100,000 at either down- town or the mall and $200,000 at the circle. Mary figures her chance of success to be 50% downtown, 60% at the mall, and 75% at the traffic circle.

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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Mary is considering opening a new grocery store in town. She is evaluating three sites: downtown, the mall, and out at the busy traffic circle. Mary cal- culated the value of successful stores at these loca- tions as follows: downtown, $250,000; the mall, $300,000; the circle, $400,000. Mary calculated the losses if unsuccessful to be $100,000 at either down- town or the mall and $200,000 at the circle. Mary figures her chance of success to be 50% downtown, 60% at the mall, and 75% at the traffic circle.
Transcribed Image Text:Mary is considering opening a new grocery store in town. She is evaluating three sites: downtown, the mall, and out at the busy traffic circle. Mary cal- culated the value of successful stores at these loca- tions as follows: downtown, $250,000; the mall, $300,000; the circle, $400,000. Mary calculated the losses if unsuccessful to be $100,000 at either down- town or the mall and $200,000 at the circle. Mary figures her chance of success to be 50% downtown, 60% at the mall, and 75% at the traffic circle.
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