Part 1: Present a scenario in which decision tree analysis could be used to gain insight about a problem in the job that you presented in the Week 1 forum discussion. Clearly define the problem to be solved and how decision tree analysis can be used to analyze the problem. The problem must be specific and have at least two decision alternatives, three states of nature, probabilities associated with each state of nature, and payoffs. Enter the information for your problem into the provided decision tree template(modify the template as needed) and attach the completed file to your discussion post to solidify your example.

Part 2: Given the scenario you've presented, what is the expected value of perfect information? What is the best solution?

Probability Instructions This template may be used to model decision tree problems. Be sure to adjust the template according to the specific problem given the number of decision alternatives and states of nature, as well as to change the expected value formulas (EV) to reflect any adjustments made to the template. Decision State of Alternative Nature for State Of Payoff Nature 51 d1 52 Ev,11 = 0.00 s3 51 d2 52 Evdz = 0.00 53 51 d3 52 Ev,13 = 0.00 s3 51 d4 52 Ev,14 = 0.00 s3 |:1