Baluk LTD has set up a management consultation firm. The set up amount is 2000$. There is 75% chance of getting a customers. The firm provide three consultancy services. The table bellow shows;

Nature of service Probability Expected Net Profit

Customer service 0.4 7400$

Personnel management 0.3 2000$

Financial Management 0.3 7000$

Using the information above;

1. Draw a decision tree
2. Determine the expected pay-offs
3. Calculate the Expected Monetary Value (EMV) of the consultancy