Please answer each box

The Nitro Fertilizer Company is developing a new fertilizer. If Nitro markets the product and it is successful, the company wilf earn a $50.000 profit; if it is unsuccessful, the company will lose $35,000. In the past, similar products have been successful 60% of the time. At a cost of $5,000, the effectiveness of the new fertilizer can be tested. If the test result is favorable, there is an 80% chance that the fertilizer will be successful. If the test result is unfavorable, there is only a 30% chance that the fertilizer will be successful. There is a 60% chance of a faworable test result and a 40% chance of an unfavorable test result. Determine Nitro's optimal stratezy. This is a multi-stage decision problem (meaning that we mat have to make a another decision based on the first decislon we make) Create a decision tree. There are (enter a number) decision alternatives for the first decision. The expected payoff for choosing not to market the product is 5 The expected payoff for marketing the product without testing is 5 The expected payoft for choosing to test the new product before potentially taking the product to market is $ Based on these expected payofts and Baye's decision rule, we should decide to