Question: Question #3 - Bob is thinking about opening a bicycle shop in his hometown. Bob believes that any small business should be started only if
Question #3 - Bob is thinking about opening a bicycle shop in his hometown. Bob believes that any small business should be started only if there is a good chance of making a profit. Bob can open a small shop, a large shop, or no shop at all. The profits will depend on the size of the shop and whether the market is favorable or unfavorable for his products. Because there will be a 5-year lease on the building that Bob is thinking about using, he wants to make sure that he makes the correct decision. Bob is also thinking about hiring a marketing professional to conduct a marketing research study. If the study is conducted, the study could be favorable (i.e., predicting a favorable market) or unfavorable (i.e., predicting an unfavorable market). Develop a decision tree for Bob.
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