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John, a street food vendor, has to choose between two strategies A and B to sell his food. On a sunny day strategy A will
John, a street food vendor, has to choose between two strategies A and B to sell his food. On a sunny day strategy A will bring $240 per day while strategy B only $140 per day. On a rainy day, strategy A will bring only $20 per day while strategy B $110. During the current season, 40% of the time it will be rainy and the rest of it sunny. Construct John's decision tree and solve it to help decide what he should do. You do not need to submit the tree itself. Instead, match the following questions to their answers. Number of decision node(s) Number of event node(s) Number of leaf node(s) Expected payoff of the tree Expected payoff of strategy B Expected payoff of strategy A Optimal strategy
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