Question: Please help me to answer this using the Decision Analysis. please solve it in excel and show the formula uses. Thank you. The management of

Please help me to answer this using the Decision Analysis. please solve it in excel and show the formula uses. Thank you.

The management of the company would like to open a farm supply store in Davao, City, Davao del Sur which will cater PFFSI products only. The President of the company assigned Marketing Department to do Marketing research for this possible business venture. the Marketing Manager initially believes that there is a 60% probability that the farm supply store would be a success. To assure success, he will follow the advice of the President to conduct market research first. Based on the historical data, there is a 0.65 probability that the marketing research will be favorable given a successful farm supply store in Davao, City which is an agricultural area. Meanwhile, there is a 0.47 probability that the marketing research will be unfavorable given an unsuccessful farm supply store. I

n order to help the Marketing Manager, we consider using Decision analysis to determine the following: (a) the probability that the farm supply store will be successful if the marketing research is favorable; (b) the probability that the farm supply store will be successful if the marketing research is unfavorable.

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