4) An important business meeting is tentatively scheduled in New York on December 23. There is a 50% chance that the meeting will happen, and it will be confirmed or cancelled on Dec. 19. If you buy your airline ticket from San Francisco to New York one week ahead of your travel on December 22, the fare is $400, and there is no refund. (Furthermore, since you hate New York, you will not go unless the meeting takes place.) If you buy the ticket any later than December 15 , the fare is $700. a) Draw a decision tree for this problem. b) If you are risk neutral, should you buy the ticket one week ahead of time or wait until you know if the meeting is on? c) A secretary of the individual you may be meeting with has offered, for $100, to give you inside information about the likelihood of the meeting taking place. With this information, which is available on December 14, P(FMM)=P(FNMNM)=0.9 where M and NM are the events of the meeting happening or no meeting happening, and FM and FNM are whether the meeting is predicted to occur or not occur by the secretary. Should you pay the secretary $100 for this information, or not? Explain your reasoning