Question: need a decision tree only George Goleb is considering the purchase of two types of industrial robots. The Rob 1 is a large robot capable
need a decision tree only
George Goleb is considering the purchase of two types of industrial robots. The Rob 1 is a large robot capable of performing a variety of tasks, including welding and painting. The Rob2 is a smaller and slower robot, but it has all the capabilities of Rob1. The robots will be used to perform a variety of repair operations on Robot 1 industrial equipment. Of course, George can always do nothing and not buy any robots. - With a favorable market, George can expect to make $50,000 from Rob1 or $30,000 from Rob2. - If the market is unfavorable, however, George estimates that he would lose $40,000 with Rob1 and he would lose only $20,000 with Rob2. - George Goleb is considering the possibility of conducting a survey on the market potential for industrial equipment repair using robots. The cost of the survey is $5,000. - Furthermore, the market survey can have either positive or negative results. George feels that there is a 0.62 chance that the results from the market survey will be positive. - George estimates that the probability of a favorable market, given positive market survey results, is 0.87. - The probability of an unfavorable market, given a negative market survey result, is estimated to be 0.85. expect to make $45,000 from Rob1 or $25,000 from Rob2. If the market is unfavorable, considering the market survey, however, George estimates that he would lose $45,000 with Rob1 and he would lose only $25,000 with Rob2. - Of course, George could bypass the market survey and simply make the decision as to whether purchase Rob1. Rob2. or not buy any robots. - Without the market survey, he estimates that the probability of a favorable market is 0.6. George wants to develop a decision tree to be able to see the overall decision considering all the outcomes. Develop a decision tree based on this problem to be able to answer the next few questions. Use Excel QM to develop your solution

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