A Canadian manufacturing company has decided to consider producing a particular model of one of its products just for sale in Germany. Because of the German requirements, the product must be made specifically for German consumption and cannot be sold in Canada. Company officials believe the market for the product is highly price sensitive. Because the product will be manufactured in Canada and exported to Germany, the biggest variable factor in being price competitive is the exchange rate between the two countries. If the Canadian dollar is strong, German consumers will have to pay more for the product in euros. If the Canadian dollar becomes weaker against the euro, Germans can buy more Canadian products for their money. The company officials are faced with decision alternatives of whether to produce the product. The states of the exchange rates are Canadian dollar weaker, Canadian dollar stays the same, and Canadian dollar stronger. The probabilities of these states occurring are 0.35, 0.25, and 0.40, respectively. Some negative payoffs will result from not producing the product because of sunk development and market research costs and because of lost market opportunity. If the product is not produced, the payoffs are −$700 when the dollar gets weaker, −$200 when the dollar remains about the same, and $150 when the dollar gets stronger. If the product is produced, the payoffs are $1,800 when the dollar gets weaker, $400 when the exchange rates stay about the same, and −$1,600 when the dollar gets stronger. Use this information to construct a decision tree and a decision table for this decision-making situation. Use the probabilities to compute the EMVs of the decision alternatives. On the basis of this information, which decision should the company make? Compute the EMV of perfect information and the value of perfect information.