It is January 10th, and Rani is currently a final year student.
She has decided to seek out a job as a consultant. She already has received an offer from ABC consulting for $72,000 per year. She has until February 1st to decide whether to accept the offer.
An old classmate of her’s, Mary Kumar, has told her that she has recommended her highly to her consulting firm, and feels that there is an excellent chance that they would give her an offer for $80,000. However, they are not prepared to make any decision until February 15th. If they made her an offer, she would need to decide by March 1

Rani also has the option of taking part in the consulting job fair in the middle of March. Rani is fairly certain that she could get a consulting job at that time, but is uncertain as to what she would be paid.
Rani's best guesses:
Probability of getting Job at Mary’s firm: 60%
Different possibilities for consulting fair offers:
$90,000: 10%
$70,000: 50%
$60,000: 40% 

Accept ABC A Reject ABC Accept Mary's Offer Offer from Mary C .6 .1 High Salary E Reject .5 Medium Salary Mary B .4 Low Salary .1 High Salary .4 D No offer .5 Medium Salary from Mary .4 Low Salary