Question: Given the following decision tree (probabilities are noted above each risk event) for potential profits from two alternative projects, use the Expected Monetary Value Method

 Given the following decision tree (probabilities are noted above each risk

Given the following decision tree (probabilities are noted above each risk event) for potential profits from two alternative projects, use the Expected Monetary Value Method to answer the following questions. To ensure proper credit for numerical problems, just enter the numbers with no decimal points or dollar signs (don't enter the dollar sign). 0.25 Event 3 6000 0.5 Project 1 Event 4 2500 0.25 Event 5 5000 0.2 Event 6 18000 Project 2 0.8 Event 7 BOO 1. What is the expected monetary value of Project 1? 2. What is the expected monetary value of Project 2? 3. Based on the expected monetary value, which project should the manager choose (enter "1" or "2" without the quotes

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