Find number of hot dogs to buy for game by payoff matrix


The Aggies will host Tech in this year's homecoming football game. Based on advance ticket sales, the athletic department has forecast hot dog sales as shown in the following table. The school buys premium hot dogs for $1.50 and sells them during the game at $3.00 each. Hot dogs left over after the game will be sold for $0.50 each to the Aggie student cafeteria to be used in making beanie weenie casserole. Use a payoff matrix to determine the number of hot dogs to buy for the game.

Sales Quantitiy Probability
2,000 0.10
3,000 0.30
4,000 0.30
5,000 0.20
6,000 0.10

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Operation Management: Find number of hot dogs to buy for game by payoff matrix
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