Problem $5$

a$)$ Draw the decision strategies for below decision tree.

b$)$ Draw the cumulative risk profile for the strategies found in part a$.$

c$)$ Determine if there is any deterministic dominance and draw the simplified tree.

d$)$ Draw any stochastic dominance conclusions for the decision tree in part c $($if there no deterministic dominance in part c and hence tree was not simplified then use the original tree$).$