Question: Decision Tree JTM really liked your work on the option pricing of the gates, so they ask you to look at their 3-phase expansion at

Decision Tree JTM really liked your work on the option pricing of the gates, so they ask you to look at their 3-phase expansion at their home airport. The three phases are: a. Upon purchase of the new gates, start a marketing program to promote JTM's routes to the East Coast, West Coast, and the Caribbean. If all goes well and the market is receptive, they will go on to phase 2. Page 2 of 2 b. Phase 2 has JTM invest in new routes to the three sets of destinations listed. If at any time, JTM finds that this is not going to work, they will pull the plug on phase 2 and scratch the project. c. Phase 3 has JTM start the new routes to the destinations listed. If things don't go well on any of the three destinations, they will pull the plug on phase 3 and scratch that destination out.

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