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A second company, Market Competition, Inc., performs analysis in an entirely different, independent manner. This company performs extensive analysis on

competitive products and produces a recommendation of "success" or "fail" based on the anticipated amount and quality of competitive products. Its experience with 50 studies has been as follows:

Market Competition Experience

Actual Outcome

ForecastSuccess

Failure

Success

22

0

Failure

3

25

Attitude Surveys charges $100,000 per survey, and Market Competition charges $150,000.

1. Consider only Attitude Surveys, use a decision tree whether or not Breezy should purchase this survey. Show your calculations.

2. Consider only Market Compeition, Inc., use a decision tree whether or not Breezy should purchase this survey. Show your calculations. 3. Based on the calculations, which company should choose to conduct the market research? Explain why.