Question: Use the following decision table to complete parts (a) through (c). State of Nature s1 (.40) s2 (.35) s3 (.25) Decision Alternative d1 150 250

Use the following decision table to complete parts (a) through (c).

State of Nature

s1 (.40) s2 (.35) s3 (.25)

Decision Alternative

d1 150 250 500

d2 100 200 400

d3 75 150 700

d4 125 450 650

a. Draw a decision tree to represent this payoff table. Note: You don't need to submit the actual tree--only the discussion about what the tree does and the decision you reach.

b. Compute the expected monetary values for each decision and label the decision tree to indicate what the final decision would be.

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