Table 21.1 Payoff Table for XYZ Company's Expansion Decision (Payoff Expressed in Profits Earned Over Next Five Years) State of Nature (Demand) (Rs Lakh) Moderate High Low Failure Options available to decision maker Expand 400 500 - 400 - 350 Build 700 400 - 600 <<-850 Subcontract 200 100 - 50 -80 Which of the three options the XYZ Company should choose?

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