Please solve it complete within one hour please i need solution

QUESTION #2: [15 Marks] Dwight Moody is the credit manager for the Fine Fabrics Mill. He is currently faced with the question of whether to extend $100,000 of credit to a potential new customer, a dress manufacturer. Dwight has three categories for the creditworthiness of a company poor risk, average risk, and good risk but he does not know which category fits this potential customer. Experience indicates that 20 percent of companies similar to this dress manufacturer are poor risks, 50 percent are average risks, and 30 percent are good risks. If credit is extended, the expected profit for poor risks is - $15,000, for average risks $10,000, and for good risks $20,000. If credit is not extended, the dress manufacturer will turn to another mill. Dwight is able to consult a credit-rating organization for a fee of $5,000 per company evaluated. For companies whose actual credit record with the mill turns out to fall into each of the three categories, the following table shows the percentage that were given each of the three possible credit evaluations by the credit-rating organization. For example, when a company has ultimately proved to be a poor risk, the credit-rating organization had rated the company a poor risk 50% of the time, average risk 40% of the time, and good risk 10% of the time, etc. Credit Evaluation Poor 50% Actual Credit Record of Company Average 40% Good 20% Poor 40 50 40 Average Good 10 10 40 a) Develop a decision analysis formulation of this problem by identifying the decision alternatives, the states of nature, and the payoff table when the credit-rating organization is not used. Use d1, dy, etc. to define and represent the decisions and su, S2, etc. to define and represent the states of nature for this question. (2) b) Assuming the credit-rating organization is not used, use the expected value (EV) criterion to determine which alternative should be chosen. (1) c) Assuming the credit-rating organization is not used, use the expected regret criterion to determine which alternative should be chosen (1) d) Find the expected value of perfect information (EVPI). Does this answer indicate that consideration should be given to using the credit rating organization? (1.5) e) Assume now the credit-rating organization is used. Use the information given in the table above and in the problem statement to calculate the posterior probabilities of the respective states of nature for each of the three possible credit evaluations of this potential customer. Hint: Identify the prior probabilities for the states of nature, the conditional (or likelihood) probabilities, and then use Bayes' rule to compute the posterior probabilities. Use 11, 12, etc. to define and represent the information event for this question. Summarize your calculations in the form of tables as shown in class. (4.5) 3 MSCI-3200 QDM II f) Draw the decision tree when the credit-rating organization is not used. (1) g) Now draw the decision tree when the credit rating organization is used. (3) h) Use the expected value (EV) criterion to solve the decision trees of parts (f) and (g). Determine Dwight's optimal strategy and its corresponding EV for this decision analysis problem. (1)