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3. You own a shoe store and are deciding which shoes to stock for the upcoming season. You can either stock designer shoes, midrange shoes, or inexpensive shoes. If you stock designer shoes, you can stock either American designers or European designers. Based on which shoes you stock, your profits will be as follows: Shoes Probability Profit (S's) American Designers 2 100 000 60,000 3 -20,000 European Designers .1 150,000 80,000 -40,000 Midrange .4 60.000 30.000 Inexpensive 50,000 40.000 1 Dr. Kezban Yagci Sokat BUS2 190 Spring 2021 (For example, if you stock shoes by European Designers there is a 50% chance that your profits will be $80,000.) (a) Use a decision tree to determine which shoes to stock in order to maximize expected profit. (b) Draw a risk profile for the optimal decision. (c) The probability of earning $50,000 when you stock inexpensive shoes is .3. How high would this probability need to be for you to decide to stock inexpensive shoes