JTM Airlines Airport Expansion Start Phasel Phase II Reven ues 300 ted Value Costs Net Probabili ty Phase III Success 55%. 25 East Coast 20% 34 Failure 45%. 20 180 Success 55% 29 West Coast 33% 40 Failure 45%. 22 Success 66% 30 410 Success 70% 23 Caribbean 25% 43 Start Failure 30% 32 7 Failure 227 33 Failure 34% 40 3. Decision Tree JTM really liked your work on the option pricing of the gates, so they ask you to look at their 3-phase expansion at their home airport. The three phases are: a. Upon purchase of the new gates, start a marketing program to promote JTM's routes to the East Coast, West Coast, and the Caribbean. If all goes well and the market is receptive, they will go on to phase 2. JTM Airlines Airport Expansion Start Phasel Phase II Reven ues 300 ted Value Costs Net Probabili ty Phase III Success 55%. 25 East Coast 20% 34 Failure 45%. 20 180 Success 55% 29 West Coast 33% 40 Failure 45%. 22 Success 66% 30 410 Success 70% 23 Caribbean 25% 43 Start Failure 30% 32 7 Failure 227 33 Failure 34% 40 3. Decision Tree JTM really liked your work on the option pricing of the gates, so they ask you to look at their 3-phase expansion at their home airport. The three phases are: a. Upon purchase of the new gates, start a marketing program to promote JTM's routes to the East Coast, West Coast, and the Caribbean. If all goes well and the market is receptive, they will go on to phase 2