Question: 7. Based on available information, a student develops a decision tree. Calculate expected value at every nodes. What is the optimum decision and its expected

7. Based on available information, a student

7. 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 (.5) Large Market Develop Product Sell Idea 3.0 (.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 What is the optimum decision and expected value? If your risk tolerance is $0, what is the optimum decision and expected value

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