An events management company is trying to decide whether or not to advertise an outdoor concert. The sale of tickets is dependent on the weather. If the weather is poor it is expected that 5 000 tickets will be sold without advertising. There is a 70% chance that the weather will be poor. If the weather is good it is expected that 10 000 tickets will be sold without advertising. There is a 30% chance that the weather will be good.

If the concert is advertised and the weather is poor, there is a 60% chance that the advertising will stimulate further demand and ticket sales will increase to 7 000. If the weather is good there is a 25% chance the advertising will stimulate demand and ticket sales will increase to 13 000.

The profit expected, before deducting the cost of advertising, at different levels of ticket sales are as follows:

The cost of advertising the concert will be \($15\) 000.
Required:
Demonstrate, using a decision tree, whether the concert should be advertised.

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Number of tickets sold Profit $ 5000 6000 (20000) (5000) 7000 35 000 8000 55 000 9000 70.000 10000 90 000 11000 115 000 12000 130 000 13000 150 000