A farmer in Trinidad, Benguet must decide whether to take protective action to limit damage to his lettuce crop in the event that the overnight temperature falls to a level well below freezing. If the temperature drops too low he runs the risk of losing his entire crop, valued at 375,000. Based on the PAG-ASA forecast, the probability of such a temperature drop is 60%. He can insulate his crop by spraying water on all the trees, which will cost 100,000. This action might succeed in protecting the crop, with the following possible outcomes:

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