Question: 3. Based on available information, a student develops a decision tree. Calculate expected value at every nodes. What is the optimum decision and its expected

3. 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.

What is the optimum decision and expected value?

If your risk tolerance is $0, what is the optimum decision and expected value?

*Please show work and steps*******

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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