Question: 2. Based on available information, a student develops a decision tree. Calculate expected value at every nodes. What is the optimum decision and its expected

2. Based on available information, a student

2. Based on available information, a student develops a decision tree. Calculate expected value at every nodes. What is the optimum decision and its expected value? Show work. Payoff ($ millions) (.5) Large Market 5.0 Produce & Market (.5) Low Mkt. -2.0 Develop (.5) Large Market Sell Idea 3.0 Product (.5) Low Mkt. 1.0 Lease for Royalty (.5) Large Market 2.2 Sell Idea Company A (.5) Low Mkt. 1.2 (.5) Large Market Company B 1.9 (.5) Low Mkt. 1.3 1.0

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