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Mickey Lawson is considering investing some money that he inherited.

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Mickey Lawson is considering investing some money that he inherited. The following payoff table gives the profits that would be realized during the next year for each of three investment alternatives Mickey is considering:
DECISION ALTERNATIVE                     GOOD ECONOMY                             POOR ECONOMY     
Stock ma rket                                          80,000                                              -20,000
Bonds                                                      30,000                                               20,000       
CD’s                                                 ;        23,000                                               23,000
Probability       & nbsp;                                             0.5                                                    0.5      
What decision would maximize expected profits?
What is the maximum amount that should be paid for a perfect forecast of the economy?
Submitted: 5 years ago.
Category: Homework
Expert:  SteveS replied 5 years ago.
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SteveS, MBA
Category: Homework
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Experience: MBA from Top 5 US Business School, Tutoring Experience for Over Two Years
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Customer: replied 5 years ago.
never received the solution or cannot pull it up
Expert:  SteveS replied 5 years ago.
In my response above, there's a link on the word "Here's." Place your cursor over that word, click on it, and it will open an external file storage site called Mediafire. Once that site opens up, there will be words on the left hand side that say "Click here to start downloading." Click on that, and it will open an Excel file with the answer. Justanswer.com's file attachment function can be problematic at times, so many people here just upload attachments via Mediafire. Let me know if you still have an issue with this.

Steve

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