Please for b part construct the tree plan on excel

Etobicoke Development Corporation EDC purchased land not far from the intersection of Dundas Street West and Kipling Avenue. The top managers of EDC , however, have different opinions on how this land can be used. Eventually, EDC commissioned preliminary architectural drawings for three different projects: High-Rise Condos; Low- Rise Condos; Townhouse Complex. Also, it is recognized that the financial success of the project depends on the situation on the real estate market, Strong Demand or Weak Demand. The EDC expectations are summarized in the following table (payoffs are in $ millions). States of Nature Decision Alternatives Weak Strong Demand Demand High-Rise Condos 30 -15 Low-Rise Condos 20 7 Townhouse 15 13 Complex Originally, EDC specialists counted on 0.61 probability of strong demand. Simple Decision Tree Part (a) Suppose that you need to construct a simple decision tree that shows the logical sequence of the decision problem Select the correct sketch of the decision tree hasArd(a) Suppose that you need to construct a simple decision tree that shows the logical sequence of the decision problem. Select the correct sketch of the decision tree based on the information above. Note that P(S):probability of strong demand, P(W}:probability of weak demand. Also, we use the following notations: P1=Payoff1 , P2=Payotf 2, P3=Payoff3, P4=Pay0ff4, P5=Payoff 5, P5=Payoff6. OP(S)=0.61,P(W)=0, P1 :30,P2: 715,P3:20,P4: 7,P5:15,P6:13 High-Rise Condos / Payoff 4 Low-Rise Condos Payoff 5 High-Rise Condos [{5} D Strong / Payoff 1 LowRise Condos Payoff 2 Townhouse Complex Payoff 6 Townhouse Complex Payoff 5 OP(S):0.39,P(W):O.6L P1 :30,P2:20,P3:15,P4: 15,P5:7,P6:13 P ( S ) Strong P1 = 30 , P2 = 20 , P3 = 15 , PA = - 15, P5 = 7, P6 = 13 P(S) Strong Payoff 1 High-Rise Condos P(W) Weak Payoff 2 P(S) Strong Low-Rise Condos Payoff 3 O P(W) Weak Payoff 4 P(S) Strong Payoff 5 Townhouse Complex P(W) Weak Payoff 6 OP(S) = 0.61 , P(W) = 0.39, P1 = 30 , P2 = - 15 , P3 = 20 , PA = 7, P5 = 15 , P6 = 13P(S) Strong Payoff 1 High-Rise Condos P(W) Weak Payoff 2 P(S) Strong Low-Rise Condos Payoff 3 P(W) Weak Payoff 4 P(S) Strong Payoff 5 Townhouse Complex O P(W) Weak Payoff 6 OP(S) = 0.61 , P(W) = 0.39, P1 = 30 , P2 = - 15 , P3 = 20 , PA = 7 , P5 = 15 , P6 = 13 High-Rise CondosP1 = 30 , P2 = - 15 , P3 = 20 , PA = 7, P5 = 15 , P6 = 13 High-Rise Condos Payoff 1 P(S) Strong Low-Rise Condos O Payoff 2 Townhouse Complex Payoff 3 High-Rise Condos Payoff 4 P(W) Weak Low-Rise Condos Payoff 5 Townhouse Complex Payoff 6 O None of the above.(b) Using the sketch from the previous question and TreePlan, construct a simple decision tree. Based on the simple decision tree answer the following questions. Keep 2 decimal places in the EMV answers. . Find the expected monetary value for High-Rise Condos decision. EMV(High-Rise Condos) = . Find the expected monetary value for Low-Rise Condos decision. EMV(Low-Rise Condos) = . Find the expected monetary value for Townhouse Complex decision. EMV(Townhouse Complex) = (c) Using the simple decision tree determine the best decision policy. O Go ahead with Low-Rise Condos project if the demand is strong. O Construct High-Rise Condos. O Construct High-Rise Condos if the demand is strong. O Go ahead with Low-Rise Condos project.O Construct High-Rise Condos. O Construct High-Rise Condos if the demand is strong. O Go ahead with Low-Rise Condos project. O Support Townhouse Complex project. O Support Townhouse Complex project if the demand is strong. O None of the above. Revised Decision Tree Part The recent dramatic increase of the prime interest rate and still uncertain situation with COVID-19 affected the company's plans. Etobicoke Development Corporation managers are thinking about hiring Adobigok Research Group (ARG) to conduct a market research. Then, ARG would come up with either favorable report predicting strong demand, or unfavorable report predicting weak demand on the real estate market. It is known that in 90% of cases when strong demand took place, ARG had predicted it correctly. It is also known that in 85% of cases when weak demand occurred, ARG had predicted it correctly. ARG specialists need a month to complete their analysis, and they have to use expensive software, supercomputers, and hire additional computer and logistics analysts. (d) Suppose that you need to construct a revised decision tree. First, fill in the following revised probability tables for the favorable and unfavorable reports. Round joint probability values, P(Favorable), P(Unfavorable), and the posterior probability values to 4 decimals places.have to use expensive software, supercomputers, and hire additional computer and logistics analysts. (d) Suppose that you need to construct a revised decision tree. First, fill in the following revised probability tables for the favorable and unfavorable reports. Round joint probability values, P(Favorable), P(Unfavorable), and the posterior probability values to 4 decimals places. Probability Revisions given a Favorable Report State Posterior Probability Prior Conditional Probability of Probability P(Fav./State of Nature) Joint Probability P(State of Nature/Fav.) Nature Strong 0.61 Weak 0.39 P(Favorable) = 1.0000 Probability Revisions given an Unfavorable Report State Prior Conditional Probability Posterior Probability of Joint Probability Probability P(Unfav./State of Nature) P(State of Nature/Unfav.) NatureProbability Revisions given an Unfavorable Report State Prior Conditional Probability Posterior Probability of Joint Probability Probability P(Unfav./State of Nature) P(State of Nature/Unfav.) Nature Strong 0.61 Weak 0.39 P( Unfavorable) = 1.0000 (e) Using the revised probability tables, please identify the revised/posterior probabilities which you are going to use in the revised decision tree: Keep 4 decimal places in the following answers. P( Strong demand | Favorable report ) = P( Weak demand | Favorable report) = P( Strong demad | Unfavorable report) = P( Weak demand | Unfavorable report) =