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PLZ ANSWER THE SECOND PART OF THE QUESTION A store chain is considering opening another location. They could earn $3,000,000 in profit if this location
PLZ ANSWER THE SECOND PART OF THE QUESTION
A store chain is considering opening another location. They could earn $3,000,000 in profit if this location succeeds or lose $1,950,000 if it fails. However, if they choose to not open the facility, there will be no effect on their earnings. The probability of the new store to be unsuccessful is 45%. A market research agency can help the store chain to make a decision by looking at the current trends for a $115,000 fee. The results of this research will help predict whether a new store will be successful, given that it actually succeeds, with probability 0.75 . On the other hand, the research will predict a failure, given that a new store will actually fail, with probability 0.65 . Use SilverDecisions to build a decision treeStep by Step Solution
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