Q$\mathrm{.}7$ Set. $($B$)$ This decision concerns whether to provide online labs. The remote lab costs INR$600000,$ and the virtual lab costs INR$200000.$ The expected payoffs $($probability$)$ are as follows:

High student rating Low student rating

remote $1800000(0\mathrm{.}7)1000000(0\mathrm{.}3)$

virtual $1200000(0\mathrm{.}2)500000(0\mathrm{.}8)$

If the virtual lab does not meet with high student rating, it can be upgraded at a cost of INR$320000.$ It will then have a $70$ percent chance of high student rating and will bring in a total return of INR$1100000.$ The current system without online labs will have a net return of INR$300000.$

$($a$)$ Draw the decision tree $[2]$

Decide what you would do on the basis of

$($b$)$ net expected value $[2]$

$($c$)$ net opportunity loss $($opportunity loss is the difference between the payoff and the cost for each strategy$).$