Question: Using the following payoff (profits) table: Alternative Store New Bridge Built No New Bridge Built Small $1 $14 $10 Medium $2 $4 $6 Large Probability

Using the following payoff (profits) table:

Using the following payoff (profits) table: Alternative Store New Bridge Built No New Bridge Built Small $1 $14 $10 Medium $2 $4 $6 Large Probability 0.60 0.40 a. Calculate the expected value of each alternative and identify the alternative that would be selected using expected monetary values (EMV). b. Construct a decision tree for the problem showing expected values

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