Zaria company ltd is considering a final “GO” decision on a new product. If the product is introduce and its successful, the profit is #500,000and if is unsuccessful the loss is #300,000.There is no profit or loss if the product is not introduced. The management believes that there is a 0.20 probability(the odds are 2 to 8) that the product will be successful. Based on the above information and under a variety of criteria (like maxmin, minimax etc), should the firm introduce the product?
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