Walter's Dog and Pony Show Walter's Dog and Pony show is scheduled to appear in Cedar Rapids on July 4. The profits obtained are heavily dependent on the weather. In particular, if the weather is rainy, the show loses $28,000 and if sunny, the show makes a profit of $12,000. (We assume that all days are either rainy or sunny.) Walter can decide to cancel the show, but if he does, he forfeits a $1,000 deposit he put down when he accepted the date. The historical record shows that on July 4, it has rained 1/4 of the time for the last 100 years. Walter has the option to purchase a forecast from Victor's Weather Wonder. Victor's accuracy varies. On those occasions when it has rained, Victor has been correct (i.e. predicted rain) 90% of the time. On the other hand, when it has been sunny, he has been right (i.e. he predicted sun) only 80% of the time. Victor charges $4000 for the forecast. Should Walter purchase the forecast