Discuss the below:
Q: A popular ice cream parlor in an upscale neighborhood wants to offer a new flavor to its patrons. Which one of three types of flavors should it add to its stock?
The parlor has the following payoff matrix for different flavors of ice cream.
Payoff Matrix
Daily Profits (Dollars)
Good Most Likely Poor
|
|
A
|
200
|
175
|
-25
|
|
Flavor
|
B
|
150
|
125
|
-50
|
|
|
C
|
125
|
100
|
25
|
Use the Hurwitz rule to decide which type of flavor should it add to its stock?