Toy 1 is being introduced to the market for the first time by ChoiceToys with no market competition. ChoiceToys believes that competitors will not be able to bring a similar toy to the market for this upcoming holiday season. You are not sure how the toy will be received by the consumers and there is equal chance that it will be highly successful, successful, or not successful.

Toy 2 has been in the market, is known to consumers, and is in demand; however, it has two other competitors in the marketplace. If marketed, ChoiceToys will be one of the three companies selling this toy in the market in the upcoming holiday season.

As a data analyst, you need to use decision analysis techniques to recommend decision alternatives or optimal decisions based on expected profit payoff for the upcoming holiday season.

• Identify the sequence of actions you need to take to start this decision process.
• Explain each sequence and justify why it will help you with your decision.
• Propose a risk profile for each choice.