Georgia State University Uncertain Decision Business Discussion

Question Description

I’m working on a economics discussion question and need an explanation and answer to help me learn.

When making uncertain decisions, using expected value can be helpful and help make more reasonable decisions. For example, one company can use expected value when determining the future demand and value for a certain product or service they are selling. Determining the demand and value of an item or service can help companies figure out how much they should produce of the item they are selling.

Explanation & Answer:
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