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You are considering going into the flowering plant business. If you do, you will buy seedlings from a local nursery for $60, raise the seedlings
You are considering going into the flowering plant business. If you do, you will buy seedlings from a local nursery for $60, raise the seedlings to maturity (which costs $30), and then sell the resulting plants to the public. Your revenue from these plant sales depends upon the quality of the lot--a good lot will provide a revenue of $200, a fair lot will provide $100 revenue, and a poor lot will bring in only $50 revenue. Assume that 20% of all lots would be good lots, 30% would be fair lots, and 50% would be poor lots. Suppose that this problem is modeled as a decision tree is the simplest possible way. How could one describe this tree
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