Question: (20 points) Explain the influence diagram in Figure 1 in your own words. (What is the uncertainty? What are the decisions? etc.) Figure 1: The

(20 points) Explain the influence diagram in

(20 points) Explain the influence diagram in Figure 1 in your own words. (What is the uncertainty? What are the decisions? etc.) Figure 1: The influence diagram for new product Units Sold Fixed Cost Unit Variable Cost Price? Revenue Cost Introduce Product? Profit Question 5 (20 points) The company thinks to advertise about a new product. Do you need to update the influence diagram in Figure 1? If it is yes, draw the new influence diagram

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