The expected monetary value, in thousands of dollars, for a small production quantity if Hats- R- Us conducts a market survey and the survey results are positive is _______.
A)$156.2
B)$522.7
C)$350.7
D)$286.0

Question

Quizplus · Accepted Answer

The expected monetary value (EMV) is calculated based on the probability of positive survey results and the corresponding monetary outcomes. The correct EMV for a small production quantity with positive survey results is $156.2 thousand.

The Expected Monetary Value, in Thousands of Dollars, for a Small