Draw a detailed decision tree using the information provided.

4. A company has formalized a new-product concept and must now decide whethe. to provide for long-range production capacity in its five-year plan. The com e opportunities for profiting from the new product: sell th now to another company, lease the concept for a royalty, or develop the produ in-house. If the concept is sold outright, it will bring $1.500,000. A consulting fim has surveyed the potential markets for the idea. If the concept is leased for tow alty, two companies have submitted proposals and this information applies: pany has thre Size of Market Company A Large Marginal Company B Large Marginal Probability Payoffs 0.5 0.5 $2,800,000 2,200,000 0.5 0.5 2,600,000 2,300,000 If the company develops the concept into a new product, it can sell the rights to the product. If this alternative is selected this information applies: Size of Market Probability Large Marginal Payoffs $2,500,000 2,200,000 0.5 0.5 If the company develops the new product and then produces and markets it, this information applies Size of Market Large Marginal Probability 0.5 0.5 Payoffs $3,000,000 1,800,000 Use a decision tree analysis and recommend a course of action for this new- product idea. a. the company follows your recommendation, what returns should the colr pany expect to receive? b. If