A farmer must determine whether to raise cows or sheep. If he raises cows and the weather is warm, he earns $8,000; if he raises cows and the weather is cold, he earns $4,000. If he raises sheep and the weather is warm, he earns $7,000; if he raises sheep and the weather is cold, he earns $6,000. All the publications he has consulted are predicting a 25% of all years have been cold. Suppose that rather than relying solely on these probabilities, the farmer may hire a weather consulting company called WCO which charges $500 for giving an opinion about the weather conditions. WCO offers the general opinion of "Green" if they think the weather conditions will be warm. On the other hand, the opinion is "Red" if they think the weather conditions will be cold. If WCO's opinion is "Green", there is a 90% chance that it will be a warm weather. If it is a cold weather, the chance of a "Red" is 80%. From the historical data, WCO gives a "Green" Opinion 60% of time. A. If the farmer does not hire WCO, how can he maximize his expected profit? (Draw decision tree for this case). B. If the farmer hires WCO, how can he maximize his expected profit? (Draw decision tree for this case). C. If the farmer has exact information about the weather condition, find his expected profit? (Draw decision tree for this case). D. What is the maximum amount of money that the farmer may pay for hiring WCO? E. What is the maximum amount of money that the farmer may pay for perfect information about weather conditions? A farmer must determine whether to raise cows or sheep. If he raises cows and the weather is warm, he earns $8,000; if he raises cows and the weather is cold, he earns $4,000. If he raises sheep and the weather is warm, he earns $7,000; if he raises sheep and the weather is cold, he earns $6,000. All the publications he has consulted are predicting a 25% of all years have been cold. Suppose that rather than relying solely on these probabilities, the farmer may hire a weather consulting company called WCO which charges $500 for giving an opinion about the weather conditions. WCO offers the general opinion of "Green" if they think the weather conditions will be warm. On the other hand, the opinion is "Red" if they think the weather conditions will be cold. If WCO's opinion is "Green", there is a 90% chance that it will be a warm weather. If it is a cold weather, the chance of a "Red" is 80%. From the historical data, WCO gives a "Green" Opinion 60% of time. A. If the farmer does not hire WCO, how can he maximize his expected profit? (Draw decision tree for this case). B. If the farmer hires WCO, how can he maximize his expected profit? (Draw decision tree for this case). C. If the farmer has exact information about the weather condition, find his expected profit? (Draw decision tree for this case). D. What is the maximum amount of money that the farmer may pay for hiring WCO? E. What is the maximum amount of money that the farmer may pay for perfect information about weather conditions