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Company XYZ makes 4 products, A, B , C and D using same material M. Due to the unexpected spread of wild disease in the

Company XYZ makes 4 products, A, B , C and D using same material M.
Due to the unexpected spread of wild disease in the country. There in now
limited supply of the material M and Company XYZ's management have to
decide to make just one of the four products to meet customers' needs in the
short term. Further Information is given Below:
Expected payoffs
Scenarios Probability A B C D
1 30% -500,000 110,000 -120,000 165,000
2 70% 130,000 -34,000 150,000 -300,000
A consultant can provide further information which will help the company to
decide on the product to make. However, his predictions are 90% certain
at a consultation fees of 90,000 only. Should the company pay the consultation fee
to him? Explain your Answer and show all workings

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