Asked by Gabriela Machado on Sep 24, 2024
Verified
If the firm can only afford developing one of the software,which one would it rather develop (based on expected profit/gain)
A) The simple voice-activated software
B) The complicated thought-activated software
C) Neither of the software
D) Need more information
Voice-Activated
Technology that allows devices or software to be controlled through spoken commands, facilitating hands-free operation.
Thought-Activated
Technology or systems controlled by human thought, without the need for physical interactions.
- Employ the concept of expected value in actual case scenarios, like carnival challenges and software development strategies.
Verified Answer
CE
charlese Ellison3 days ago
Final Answer :
A
Explanation :
The expected profit for the thought-activated software is (0.30 * $50 million) - $10 million = $5 million. For the voice-activated software, it's (0.80 * $10 million) - $2 million = $6 million. Therefore, the simple voice-activated software is the better choice based on expected profit.
Learning Objectives
- Employ the concept of expected value in actual case scenarios, like carnival challenges and software development strategies.
Related questions
What Is the Expected Revenue from Developing the Simplified Software
What Is the Expected Revenue from Developing the Complicated Software
At a Fair Carnival Roulette Wheel,a Player Can Either Win ...
At a Fair Carnival Roulette Wheel,a Player Can Either Win ...
The Nash Equilibrium Was Named After