Decision Tree Problem: Students are expected to submit their work seporately to the Convas ink pronged

$$Ele&Mert Co$.$ is considering an expansion to the Northeastern States.

$$If the expansion is successful, the company can make $$17$ million. Otherwise, in other words if the ergansion is unsuccessful, Efe & Mert Co$,$ will lose $$9$ million.

$$Efe and Mert Co$,$ estimates that there's a $33\%$ chance that the expansion to the Notfestvil be succesd. Hourer they are considering hiring a market research him to do a more in$-$depth test of the Northest make to gitaberter estimate of their chance of success.

$$The market research frm charges $$3$ million and conducts a test that wilcome back posthe or negate. These $60\%$ chance that the market tes will come back with a negative testresult.

$$Ifthe result is negative, the chance of success for the companys regional expansion in the Nothester Sals all

only $5\%$

a$)$ Create a decision tree to help identily the optima decsion strategy for fed Mer co b What is the optimal decision strategy for Efe & Mert Co$?$ What is the expected monetarvalue of the cotines desor strategy?

c$)$ What if the market research frm changed their price? What price would make you changeyour recommendation b fie & Mert Co$,$ and what would be the new optimal decision strategy? nother word, there would be apresite SMer ca would still choose the same decision strategy. Beyond that threshold. Eft SMert$-$Co wilchange the deison staty.