Question: Given is a Decision Tree Diagram. The Payoffs 1-14 are given in the table below. Answer questions a, b, and c 1/3 PayOff 1 1/3

Given is a Decision Tree Diagram. The Payoffs 1-14 are given in the table below. Answer questions a, b, and c 1/3 PayOff 1 1/3 Payoff 2 1/3 PayOff 3 0.30 PayOff 4 PayOff S Alternative A PayOff 6 PayOff 7 PayOff 8 Alternative B PayOff 9 PayOff 10 PayOff 11 PayOff 12 Payoff 13 0.50 0.20 0.30 0.50 0.20 s 2 1/3 1/3 1/3 Payoff 1 3 5 6 7 8 S 16 6 5 -4 6 7 37 a) The value at node 4 is b) The value at node 8 is c) The best course of action or decision is to select alternative 12 - 19 10 11 12 13 14 85 8 4 14 5 (in 1 decimal place)

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