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Assume a corn farmer plants a given number of acres of corn and he is deciding on buying 60 bags of fertilizers vs buying 80

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Assume a corn farmer plants a given number of acres of corn and he is deciding on buying 60 bags of fertilizers vs buying 80 bags of fertilizers. I assume that there is about a 45% chance that weather will be bad and corn net returns will be 20,000$, a 25% chance that weather will be average and corn net returns will be 10,000$, and a 30% chance that weather will be good and corn net returns will be 30,000$ under Buy 60 strategy. The corresponding net returns are 30,000$,21,600$ and 37,500$ for Buy 80 strategy for bad, average and good weather respectively. Draw the decision tree for this risk event and choose your best strategies based on 'most likely outcome,' 'maximum expected value', 'risk and return comparison' (for a risk lover farmer) and 'safety first' rules. Show your work! (4 Points for each method, 4 Points for Decision Tree)

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