Models M and M are available smartphones to consumers. Each one can be of either good...

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Models M₁ and M₂ are available smartphones to consumers. Each one can be of either good or low quality. There is only one test T₁ that can be used. Ti on M₁ costs R100. On M2, T1 costs R50. The cost of repairing an M₁ if it is of poor quality is R700. If M₂ is of poor quality, the repair costs R740. Test T₁ on M₁ will confirm good quality with a probability of 0.8 and bad quality with a probability of 0.65. Test T₁ on M₂ will confirm good quality with a probability of 0.75 and bad quality with a probability of 0.7. A consumer wants to buy one of the two smartphone models and wants both examined to determine which model is more economic. i. ii. Construct a decision tree for this problem. Which model is more economic? [14] [2] Models M₁ and M₂ are available smartphones to consumers. Each one can be of either good or low quality. There is only one test T₁ that can be used. Ti on M₁ costs R100. On M2, T1 costs R50. The cost of repairing an M₁ if it is of poor quality is R700. If M₂ is of poor quality, the repair costs R740. Test T₁ on M₁ will confirm good quality with a probability of 0.8 and bad quality with a probability of 0.65. Test T₁ on M₂ will confirm good quality with a probability of 0.75 and bad quality with a probability of 0.7. A consumer wants to buy one of the two smartphone models and wants both examined to determine which model is more economic. i. ii. Construct a decision tree for this problem. Which model is more economic? [14] [2]

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A decision tree is a graphical tool that helps to analyze uncertain outcomes and make optimal decisions It consists of nodes and branches that represe... View the full answer