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I need help with spreadsheet. this question has already been answered but the answer was supplied in a word doc verses an excel spreadsheet. please
I need help with spreadsheet. this question has already been answered but the answer was supplied in a word doc verses an excel spreadsheet. please see question 8-28 , answer, and format it needs to go in. thank you. basically, all I need is the treeplan format that you completed for me before. thank you
\f8-28 Jerry Young is thinking about opening a bicycle shop in his hometown. Jerry loves to take his own bike on 50-mile trips with his friends, but he believes that any small business should be started only if there is a good chance of making a profit. Jerry can open a small shop, a large shop, or no shop at all. Because there will be a five-year lease on the building that Jerry is thinking about using, he wants to make sure that he makes the correct decision. Jerry has done some analysis about the profit- ability of the bicycle shop. If Jerry builds the large bicycle shop, he will earn $60,000 if the market is good, but he will lose $40,000 if the market is bad. The small shop will return a $30,000 profit in a good market and a $10,000 loss in a bad market. At the present time, he believes that there is a 59% chance that the market will be good. Jerry also has the option of hiring his old marketing professor for $5,000 to conduct a marketing research study. If the study is conducted, the results could be either favorable or unfavorable. It is estimated that there is a 0.6 probability that the survey will be favorable. Furthermore, there is a 0.9 probability that the market will be good, given a favorable outcome from the study. However, the marketing professor has warned Jerry that there is only a probability of 0.12 of a good market if the marketing research results are not favorable. (a) Develop a decision tree for Jerry and help him decide what he should do. (b) How much is the marketing professor's information worth? What is the efficiency of this information? Use mechanical method -120000 0.5 Awarded contract Try electronic method 2 250000 -50000 90000 Prepare proposal Try magnetic method -50000 20000 -80000 1 0.5 Not awarded contract 20000 0 Do not prepare proposal 0 0 -50000 se mechanical method 80000 80000 0.5 Electronic success 150000 y electronic method 90000 0 150000 0.5 Electronic failure 30000 -120000 30000 0.7 Magnetic success 120000 y magnetic method 84000 0 120000 0.3 Magnetic failure 0 -120000 0 -50000 0 ID Name 0 TreePlan 1 2 3 4 5 6 7 8 9 10 11 Value Prob 0 Pred 0 0 0 0 0 0 0 0 0 1 1 3 3 3 6 6 7 7 Kind D E T D T T E E T T T T NS 2 2 0 3 0 0 2 2 0 0 0 0 S1 S2 1 3 0 5 0 0 8 10 0 0 0 0 S3 2 4 0 6 0 0 9 11 0 0 0 0 S4 0 0 0 7 0 0 0 0 0 0 0 0 S5 0 0 0 0 0 0 0 0 0 0 0 0 Row 0 0 0 0 0 0 0 0 0 0 0 0 Col 25 18 32 10 27 2 9 19 7 12 17 22 1 5 5 9 9 13 13 13 17 17 17 17 Mark 1 1 1 1 1 1 1 1 1 1 1 1 Use mechanical method -$120,000 0.5 Awarded contract Try electronic method 2 $250,000 -$50,000 $90,000 Prepare proposal Try magnetic method -$50,000 $20,000 -$80,000 1 0.5 Not awarded contract $20,000 $0 Do not prepare proposal $0 $0 -$50,000 e mechanical method $80,000 $80,000 0.5 Electronic success $150,000 electronic method $90,000 $0 $150,000 0.5 Electronic failure $30,000 -$120,000 $30,000 0.7 Magnetic success $120,000 magnetic method $84,000 $0 $120,000 0.3 Magnetic failure $0 -$120,000 $0 -$50,000 $0 ID Name 0 TreePlan 1 2 3 4 5 6 7 8 9 10 11 Value Prob 0 Pred 0 0 0 0 0 0 0 0 0 1 1 3 3 3 6 6 7 7 Kind D E T D T T E E T T T T NS 2 2 0 3 0 0 2 2 0 0 0 0 S1 S2 1 3 0 5 0 0 8 10 0 0 0 0 S3 2 4 0 6 0 0 9 11 0 0 0 0 S4 0 0 0 7 0 0 0 0 0 0 0 0 S5 0 0 0 0 0 0 0 0 0 0 0 0 Row 0 0 0 0 0 0 0 0 0 0 0 0 Col 25 18 32 10 27 2 9 19 7 12 17 22 1 5 5 9 9 13 13 13 17 17 17 17 Mark 1 1 1 1 1 1 1 1 1 1 1 1 Use mechanical method -$120,000 0.5 Awarded contract Try electronic method 2 -$50,000 $250,000 Prepare proposal Try magnetic method -$50,000 -$80,000 1 0.5 Not awarded contract $0 Do not prepare proposal $0 se mechanical method y electronic method y magnetic method $80,000 0.5 Electronic success $150,000 $0 0.5 Electronic failure Use mechanical method 1 $0 $30,000 -$120,000 0.7 Magnetic success $120,000 $0 0.3 Magnetic failure Use mechanical method 1 $0 $0 -$120,000 -$50,000 $0 ID Name 0 TreePlan 1 2 3 4 5 6 7 8 9 10 11 12 13 Value Prob 0 Pred 0 0 0 0 0 0 0 0 0 0 0 1 1 3 3 3 6 6 7 7 9 11 Kind D E T D T T E E T D T D T T NS S1 2 2 0 3 0 0 2 2 0 1 0 1 0 0 S2 1 3 0 5 0 0 8 10 0 12 0 13 0 0 2 4 0 6 0 0 9 11 0 0 0 0 0 0 S3 S4 0 0 0 7 0 0 0 0 0 0 0 0 0 0 S5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Row 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Col 25 18 32 10 27 2 9 19 7 12 17 22 12 22 Mark 1 5 5 9 9 13 13 13 17 17 17 17 21 21 1 1 1 1 1 1 1 1 1 1 1 1 1 1 Use mechanical method -$120,000 0.5 Awarded contract Try electronic method 1 $250,000 -$50,000 $80,000 0.41335 Prepare proposal Try magnetic method -$50,000 $1,337 0.00887 1 -$80,000 0.5 Not awarded contract $1,337 0.00887 $0 Do not prepare proposal $0 $0 0.00000 -$50,000 -0.39561 Label in cell on left is the defined name of cell on right. se mechanical method $80,000 $80,000 0.41335 RT 0.5 Electronic success $150,000 y electronic method $78,307 0.40669 $0 $150,000 0.63212 0.5 Electronic failure $30,000 -$120,000 $30,000 0.18127 0.7 Magnetic success $120,000 y magnetic method $73,035 0.38547 $0 $120,000 0.55067 0.3 Magnetic failure $0 -$120,000 $0 0.00000 -$50,000 $0 bel in cell on left is the fined name of cell on right. $150,000 ID Name 0 TreePlan 1 2 3 4 5 6 7 8 9 10 11 Value Prob 0 Pred 0 0 0 0 0 0 0 0 0 1 1 3 3 3 6 6 7 7 Kind D E T D T T E E T T T T NS 2 2 0 3 0 0 2 2 0 0 0 0 S1 S2 1 3 0 5 0 0 8 10 0 0 0 0 S3 2 4 0 6 0 0 9 11 0 0 0 0 S4 0 0 0 7 0 0 0 0 0 0 0 0 S5 0 0 0 0 0 0 0 0 0 0 0 0 Row 0 0 0 0 0 0 0 0 0 0 0 0 Col 25 18 32 10 27 2 9 19 7 12 17 22 1 5 5 9 9 13 13 13 17 17 17 17 Mark 1 1 1 1 1 1 1 1 1 1 1 1 Use mechanical method -$120,000 0.5 Awarded contract Try electronic method 1 $250,000 -$50,000 $80,000 0.78714 Prepare proposal Try magnetic method -$50,000 $1,337 0.39357 1 -$80,000 0.5 Not awarded contract $1,337 0.39357 $0 Do not prepare proposal $0 $0 0.38494 -$50,000 0.00000 Label in cell on left is the defined name of cell on right. se mechanical method $80,000 $80,000 0.78714 RT 0.5 Electronic success Low High $150,000 y electronic method $78,307 0.78066 $0 $150,000 1.00000 A B 0.5 Electronic failure $30,000 -$120,000 $30,000 0.56131 0.7 Magnetic success $120,000 y magnetic method $73,035 0.76000 $0 $120,000 0.92075 0.3 Magnetic failure $0 -$120,000 $0 0.38494 -$50,000 $0 $150,000 -$50,000 $150,000 1.357952354 0.97301538 U(Low) = 0.0 U(High) = 1.0 Value -$50,000 -$45,000 -$40,000 -$35,000 -$30,000 -$25,000 -$20,000 -$15,000 -$10,000 -$5,000 $0 $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 $40,000 $45,000 $50,000 $55,000 $60,000 $65,000 $70,000 $75,000 $80,000 $85,000 $90,000 $95,000 $100,000 $105,000 $110,000 $115,000 $120,000 $125,000 $130,000 $135,000 $140,000 $145,000 Risk Utility 0.00000 0.04452 0.08758 0.12923 0.16951 0.20847 0.24616 0.28260 0.31786 0.35196 0.38494 0.41684 0.44769 0.47753 0.50640 0.53431 0.56131 0.58743 0.61269 0.63712 0.66076 0.68361 0.70572 0.72710 0.74779 0.76779 0.78714 0.80585 0.82395 0.84146 0.85839 0.87477 0.89061 0.90593 0.92075 0.93508 0.94894 0.96235 0.97532 0.98787 1.00000 0.90000 0.80000 Utility or Expected Utility, U(x) bel in cell on left is the fined name of cell on right. 0.70000 0.60000 0.50000 0.40000 0.30000 0.20000 0.10000 0.00000 -$50,0 $150,000 1.00000 DriveTek Risk Utility Function 1.00000 0.90000 Utility or Expected Utility, U(x) 0.80000 0.70000 0.60000 0.50000 0.40000 0.30000 0.20000 0.10000 0.00000 -$50,000 $0 $50,000 Value or Certain Equivalent, x $100,000 $150,000 0 $150,000 ID Name 0 TreePlan 1 2 3 4 5 6 7 8 9 10 11 Value Prob 0 Pred 0 0 0 0 0 0 0 0 0 1 1 3 3 3 6 6 7 7 Kind D E T D T T E E T T T T NS 2 2 0 3 0 0 2 2 0 0 0 0 S1 S2 1 3 0 5 0 0 8 10 0 0 0 0 S3 2 4 0 6 0 0 9 11 0 0 0 0 S4 0 0 0 7 0 0 0 0 0 0 0 0 S5 0 0 0 0 0 0 0 0 0 0 0 0 Row 0 0 0 0 0 0 0 0 0 0 0 0 Col 25 18 32 10 27 2 9 19 7 12 17 22 1 5 5 9 9 13 13 13 17 17 17 17 Mark 1 1 1 1 1 1 1 1 1 1 1 1Step by Step Solution
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