Question: Draw a decision tree for Olivia's problem described below. At each decision node, clearly label each alternative. Include probabilities at all chance nodes. DO NOT

Draw a decision tree for Olivia's problem
Draw a decision tree for Olivia's problem described below. At each decision node, clearly label each alternative. Include probabilities at all chance nodes. DO NOT SOLVE this decision tree, just draw the tree and label it appropriately, with the payoffs after the terminal nodes. Olivia Romanopoulos, chief process engineer at Yukon Heavy Metal Ingots, has to decide whether or not to build a new processing facility. If the new facility succeeds, the company will realize a profit of $200,000. If it fails, Yukon Heavy Metal Ingots will lose $182,000. At this time, Olivia estimates there is a 60% chance that the new facility will fail. The other option is to first build a pilot facility and then decide whether to build the full-scale new processing facility. The pilot facility would cost $28,500 to build. Olivia estimates a 55% chance that the pilot facility will succeed. If the pilot facility succeeds, there is a 90% probability that the full-scale facility, if it is built, will also succeed. If the pilot facility fails, there is only a 20% chance that the full-scale facility, if it is built, will succeed. DO NOT SOLVE this decision tree!! Simply draw it out from left to right with the provided information Draw the decision tree on the following blank page. Use extra paper if you need to, and include with your exam submission Be sure to: . Use proper symbols for decision, probability and terminal nodes. Include all the payoff values. Include all the probabilities Label all the branches. Please use a ruler, or a straight edge, to create a neat diagram

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