Question: Question 4.1 Using the following payoff (profits) table: No New Bridge Built New Bridge Built $1 $14 Alternative Store Small Medium Large Probability S2 $10

Question 4.1 Using the following payoff (profits)

Question 4.1 Using the following payoff (profits) table: No New Bridge Built New Bridge Built $1 $14 Alternative Store Small Medium Large Probability S2 $10 $6 54 0.60 0.40 a. Calculate the expected value of each alternative and identify the alternative that would be selected using expected monetary values (EM), b. Construct a decision tree for the problem showing expected values. ranscribed image text ert Answer Anonymous answered this

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