Project Chance of Outcome Estimated Profits Project 1 50 Percent $120,000 50 Percent -$50,000 Project 2 30 Percent $100,000 40 Percent $50,000 30 Percent -$60,000 Project 3 70 Percent $20,000 30 Percent -$5,000 Project 4 30 Percent $40,000 30 Percent $30,000 20 Percent $20,000 20 Percent $50,000 Supposed that your organization is deciding which of four projects to bid on, as summarized in the following table. Assume that all up-front investment are not recovered, so they are shown as negative profits. Draw a diagram and calculate the EMV for each project. Note, the expected output will be the completed diagram and a quick explanation of which project you would select. I am not looking for multiple paragraphs, just a summary on your choice from the diagram that's above