Question [20 Marks]: Wilson, the marketing manager of a restaurant, is considering whether or not to drop the restaurant's current marketing campaign. If Wilson drops the marketing campaign, the anticipated profit next month will depend on the current level of the Customer Satisfaction Rating (CSR, on a scale of 0 to 5, CSR measures the customers' satisfaction with the service they receive): Anticipated Profit | Drop the marketing campaign = ($550,000 x Current CSR) + $2,300,000 If Wilson continues the current marketing campaign, the anticipated profit next month will depend on both the current level of CSR and the Marketing Impact Score (MIS, on a scale of 0 to 100, MIS measures the level of success of a marketing campaign) of the campaign. Anticipated Profit | Do not drop the marketing campaign = 0.8*($550,000 x Current CSR) + 0.2*($38,000 x MIS) + $2,300,000 The problem is that Wilson does not know how successful the marketing campaign will be. a) Explain to Wilson the steps and methods that he could use to assess his subjective probability of the impact of the marketing campaign (as measured by the MIS). [10 Marks] b) Wilson followed your suggestions and made the following assessments for the MIS: o 0.05 fractile for MIS = 65 o 0.25 fractile for MIS = 76 0 0.50 fractile for MIS = 83 o 0.75 fractile for MIS = 89 o 0.95 fractile for MIS = 92 A recent survey shows that the current CSR is 3.3. Use all the information above and appropriate decision analysis tools to advise Wilson whether or not he should drop the marketing campaign. Show all your workings (include any graphical representations). Explain your assumptions and decision. [10 Marks] in your answer]