A company is considering whether to market a new product. Assume, for simplicity, that if this product is marketed, there are only two possible outcomest success or fallure. The company assesses that the probabilities of these bro outcomes are p and 1 - p, respectively, If the product is marketed and it proves to be a failure, the company will have a net loss of $450,000. If the product is marketed and it proves to be a success, the company will have a net gain of $700,000. If the company decides not to markat the product, there is no gain or lass. The company can first aurvey prospective buyers of this new product. The results of the consumer survey can be classified as favorable. neutral, or unfaverable. Based on similar surveys for previous products, the company assesses the probabilities of favorable, neutral, and unfavorable survey results to be 0.6 , 0.3 , and 0.1 for a product that will eventually be a success, and it assesses these probabilities to be 0.1,0.2, and 0.7 for a preduct that will eventually be a failure. The total cost of adminiatering this survey is C dollars. a. Let p=0,4. For which values of C, if any, would this company choose to conduct the survey? The company should shoose to conduct the survey for total survey costs that are less than $ (2). b. Let p=0.4. What is the largest amount this company would be willing to pay for perfect information about the potential success or fallure of the new product? The company should pay up to s for perfect information about the petential success or failure of the new product. c. Let p=0.5 and C=$15,000. Find the strategy that maximises the cempany's expected net earnings. What is the company's optimal strategy