Question: QUESTION 2 Given is a Decision Tree Diagram. The Payoffs 1-14 are given in the table below. Answer questions a, b, and c. 1/3 PayOff

QUESTION 2 Given is a Decision Tree Diagram. The

QUESTION 2 Given is a Decision Tree Diagram. The Payoffs 1-14 are given in the table below. Answer questions a, b, and c. 1/3 PayOff 1 1/3 PayOff 2 1/3 PayOff 3 0.30 PayOff 4 PayOff S Alternative A PayOff 6 1/3 PayOff 7 1/3 PayOff 8 1/3 PayOff 9 Alternative B PayOff 10 PayOff 11 PayOff 12 1/2 PayOff 13 1/2 PayOff 14 0.50 0.20 6 4 0.30/ 0.50 S 0.20 6 7 8 |9 |10||11|12||13||14 -3 8 -4 S -5 4 7 5 Payoff 1 2 3 4 |5 5 9 -7 2 7 a) The value at node 4 is b) The value at node 8 is c) The best course of action or decision is to select alternative (in 1 decimal place)

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