Consider an investor seeking his chances for an investment. The profits obtained from the investment are heavily dependent on the market conditions. In particular, if the market is down (i.e. down or flat), the investment loses $14,000, and if market is up the investment makes a profit of $11,000. (It will be either up or down) The investor may choose to do nothing in which case he has zero profit. Historical data reveal that there is a 25% probability that the market will be down. a) Which decision should the investor make to maximize his expected net dollar return? b) What is the expected value of perfect information (EVPI) in this situation? c) The investor has the option to consult an expert. The expert's accuracy varies. On those occasions when market was down, she has been correct 90% of the time. On the other hand, when the market was up she was right only 80% of the time. Draw the corresponding decision tree and calculate the expected value of imperfect information (EVII). d) How much should the investor be willing to pay for the expert's consultancy