High Medium Low Buy $90 $40 $0 Rent $70 $100 $40 Lease $50 $30 $50 The Laplace strategy would be:

a. $70

Explanation:

Note: The organized question and table is attached below as picture

In Laplace strategy also known as equally likely criterion, average payoff for each of the given alternatives is determined first. Then, the alternative with the highest average payoff or minimum cost is selected.

From the given information, average payoff for each alternative is determined below,  

Buy = ($90 + $40 + $0) / 3 = $130 / 3 = $43.33

Rent = ($70 + $100 + $40) / 3 = $210 / 3 = $70 (highest)

Lease = ($50 + $30 + $50) / 3 = $130 / 3 = $43.33

The highest average payoff is for the Rent alternative. Therefore, Rent alternative should be selected under the Laplace strategy with a profit of $70.

you don't if you paid you paid. it's like if i bought a computer and used it then i say idon't want it anymore so im gonna return it. you can't. unlkess you have your reciept

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