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Moira is a keen and expert photographer of wildlife. She has recently launched a range of greeting cards featuring her photos that she sells at

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Moira is a keen and expert photographer of wildlife. She has recently launched a range of greeting cards featuring her photos that she sells at craft and gift fairs across the country. Moira is now looking to expand the business and apart from maintaining status quo, she has identified three mutually exclusive options from which she intends to choose one. The first is to set up a web page and sell her cards online. She has estimated that this option will cost her 4000. This option can either result in high success with probability of 0.25 and revenue of 50,000, moderate success with probability of 456% and revenue of 30,000; or low success with revenue of 16,000. The second option is to get her cards stocked in local independent stores and tourist information centres. She has estimated that this will cost her just 1000. There is a 15% probability that it results in low success with revenues of 12,500. If there is high success (probability of 0.4), she can expect a revenue of 25,000, and for moderate success, she can expect a revenue of 18,000. The third option is to offer the sole distribution rights of her works to a design studio, but there is a cost of 8000 for specialised equipment to upgrade her photos. For this option success is only either high or low. The respective probabilities are 0.3 and 0.7 and revenues are 75,000 and 25,000 respectively. Using decision tree analysis, advise Moira based only on the expected monetary values ..... . 3 - "

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