Instructions Consider the following decision tree. Description: a decision-maker rst decides whether to go to Rome or to Milan on holiday. If she goes to Rome, she will then decide whether to get around with a bike or the bus. Taking the bike in Rome is more dangerous than taking the bike in Milan. But if she takes the bus in Rome, there will be a random chance with equal odds (50/50 chance) of the bus arriving on time or the bus arriving with signicant delays. If she goes to Milan, she can choose whether to get around with a bike or with a scooter. Payoffs for each possibility are shown below. Assume risk neutrality. Solve the tree and then answer the following questions. Attempt History Score for this quiz: 3 out of 5 * Submitted Oct 4 at 5:51pm This attempt took 6 minutes. Question 1 Should the decision maker go to Rome or Milan? Question 2 If she goes to Rome, what is the expected value of taking the bus? Correct Answers 180 (with margin: 0) Question 3 0 l 1 pts ls information about whether the bus will arrive on time valuable information? :orrect Answer ' No Question 4 O l 1 pts Suppose that you are uncertain about the payoff to being in Rome and taking the bus when the bus is delayed. That is, instead of 160, suppose the payoff was X. What is the range of values of X that would make information about the arrival of the bus valuable information? :orrect Answer > X