The Precisa Ltd. can invest in a new production line for its best traded type of car tire. This has the potential to generate either losses of up to $120 000 at the end of first year after investment or profits of up to $350 000. You are a decision analyst working with Precisa Ltd. and for the sake of deciding whether to make this investment you need to construct the utility function of the CEO of Precisa Ltd. over the potential profits and losses.

Describe a detailed dialog with the CEO of Precisa Ltd. as a decision maker (and you as decision analyst) to elicit one of the utility quantiles over profits at a precision of  = $500 . (quantile index is .60).