Question: QUESTION 4 Given is a Decision Tree Diagram. The Payoffs 1-14 are given in the table below. Answer questions a, b, and c. 1/3 1/3

QUESTION 4 Given is a Decision Tree Diagram. The

QUESTION 4 Given is a Decision Tree Diagram. The Payoffs 1-14 are given in the table below. Answer questions a, b, and c. 1/3 1/3 Payoff 1 PayOff 2 PayOff 3 1/3 4 0.30 PayOff 4 0.50 PayOff 5 Alternative A 0.20 PayOff 6 9 1/3 1/3 PayOff 7 PayOff 8 PayOff 9 1/3 Alternative B 5 0.30 PayOff 10 0.50 8 Payoff 11 0.20 1/2 PayOff 12 Payoff 13 6 1/2 Payoff 14 3 Payoff 1 S 6 2 8 4 5 -65 6 7 8 9 10 11 12 13 14 4 -4 4 1 62-372 8 a) The value at node 4 is b) The value at node 8 is (in 1 decimal place) c) The best course of action or decision is to select alternative

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