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I'm currently trying to work on this problem using the Frontline Analytical Solver add-on for Excel, per our professor. I'm having difficulty trying to figure
I'm currently trying to work on this problem using the Frontline Analytical Solver add-on for Excel, per our professor. I'm having difficulty trying to figure out what values and percentages need to be for each node on my decision tree. Please assist me in knowing what value/percentage to assign at each particular node to get the correct payoff accordingly.
66% Approved 207 a Node Highest Bid 34% # Rejected Bid 96 41% 80% Predicts Approval Not Highest Bid 15000 Do Not Bid -15000 5% Market Research 10 Approved 20% Highest Bid 95% Rejected Bid 59% 80% Predicts Rejection Not Highest Bid -150100 Do Not Bid -15000 30% Approved 20% Highest Bid 70% Rejected Bid 80% No Market Research Jo Not Bid Do Not BidStep by Step Solution
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