1. A company needs to decide whether to switch to a new product or not. The product that the company is currently making provides a fixed payoff of $150,000. If the company switches to the new product, its payoff depends on the level of sales. It is estimated that there are about 30% chance of high-level sales ($300,000 payoff), 50% chance of medium-level sales ($100,000 payoff), and 20% chance of low level sales (losing $100,000). A survey which costs $20,000 can be performed to provide information regarding the sales to be expected. If the survey shows high level sales, then there are about 60% chance of high-level sales and 40% chance of medium-level sales when the company sells the product. On the other hand, if the survey shows low-level sales, then there are about 60% chance of medium-level sales and 40% chance of low-level sales when the company sells the product. Find the optimal decision.