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High Grade must decide if they are going to introduce a new wine. Management feels that if it does introduce the new wine, it will

High Grade must decide if they are going to introduce a new wine. Management feels that if it does introduce the new wine, it will yield a profit of $2.5 million if sales are around 250 million bottles, a profit of $350,000 if sales are around 40 million bottles, or it will lose $1.5 million if sales are only around 1/2 million bottles. If High Grade does not introduce the new wine, it will suffer a loss of $400,000 for the research and development spent on developing the new soda. An internal marketing research study has found probabilities as follows: P(250 million in sales)=1/5; P(40 million in sales)=1/2; and P(1/2 million in sales)=3/10
Draw the decision tree that captures this problem
Analyze the tree to justify your explanation regarding whether High Grade should introduce the new wine.

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