Topic 4 Assignment Question An organization is considering launching an entirely new service. If the market reaction to this service is good with probability 0.2, the organization will make $3000 a week. If market reaction is medium with probability 0.5, it will make $1000 a week. But if reaction is poor with probability 0.3, it will lose $1500 a week. The organization could run a survey to test market reaction with results A, B or C. Experience suggests that the reliabilities and un-reliabilities of such a survey are given in the following table. Survey result "had released" A B C Market "reacted" Good 0.7 0.2 0.1 Medium 0.2 0.6 0.2 Poor 0.1 0.4 0.5 The organization needs your help to determine the following: (a) Construct and solve the prior tree. (b) Construct and solve the whole tree. (c) Can you infer from the analysis that which survey result(s) is/are favorable or unfavorable? Why? (d) What are the optimal strategy and max expected weekly profit? (e) What is the EVSI? (f) If the survey cost were $50, what would be the optimal strategy and max expected weekly profit? (g) If the survey cost were $80, what would be the optimal strategy and max expected weekly