### What is the most that should be paid for this forecast

Assignment Help Operation Management
##### Reference no: EM13251821

Nick has plans to open some pizza restaurants, but he is not sure how many to open. He has prepared a payoff table to help analyze the situation.

Nick believes there is a 40 percent chance that the market will be good, a 30 percent chance that it will be fair, and a 30 percent chance that it will be poor. A market research firm will analyze market conditions and will provide a perfect forecast (they provide a money back guarantee). What is the most that should be paid for this forecast?

a. \$123,000

b. \$132,000

c. \$ 53,000

d. \$176,000

e. \$ 44,000

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