Problem 7-51 Algo w_PrecisionTree (Multistage Decision Problems) 4 Question 4 of 5 Check My Work A television network earns an average of $22 million each season from a hit program and loses an average of $8 million each season on a program that turns out to be a flop. Of all programs picked up by this network in recent years, 25% turn out to be hits and 75% turn out to be flops. At a cost of C dollars, a market research firm will analyze a pilot episode of a prospective program and issue a report predicting whether the given program will end up being a hit. If the program is actually going to be a hit, there is a 75% chance that the market researchers will predict the program to be a hit. If the program is actually going to be a flop, there is only a 30% chance that the market researchers will predict the program to be a hit. a. What is the maximum value of C that the network should be willing to pay the market research firm? Enter your answer in dollars, not in million dollars. $ b. Calculate EVPI for this decision problem. Enter your answer in dollars, not in million dollars. $