15. Making Investment Decisions Under Uncertain Conditions

At times, you have access to dependable, objective information as the basis for your business decisions. For example, you might know how much you’ll pay in interest for a loan to retool a manufacturing operation. Or you might know what it will cost to hire an employee who can perform a critical role for your company.

But more often, you must make a decision without access to solid information. If so, you might be able to use historical data or acquire new information that bears on your decision. The right analysis of that data can help you make probability ...

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