This week we look into QRA. You are a team of entrepreneurs who just came up with a new gadget. This device is a bracelet that helps people staying awake throughout an entire Zoom class. Your target market is the students. Your profit is expected at $5 per unit. Preliminary market analysis reveals you may be able to sell 1,000 of them this year. Your team is trying to get on the Dragon's Den TV show in December next year to run the chance of obtaining a sponsorship from one of the dragons. You expect that if you win, your sales would increase by 10X or even 100X if you sell on the international market, but your profit would decrease by 33%. The risk of not obtaining a patent is that another team could steal the idea and prevent you from selling your gadget and therefore lose the totality of your investment. Your first year investment is estimated at $50,000. For the assignment, you must decide whether your company should be spending money on a patent, and which kind of patent. You must use the tools we have learned about in QRA: the EMV and the decision tree to justify your risk, but explain your final decision in your own word