6.17 A member of a successful girl band is considering leaving the band to pursue a solo career. If she stays with the band she estimates that there is a 60 per cent chance that the band will continue to be successful and she would earn

£1.7 m over the next three years. If the band’s success does not continue she would still earn £0.6 m over the next three years under her existing contract. If she embarks on a solo career she estimates that the chance of success is 20 per cent. A successful solo career would bring her £4 m in the next three years. If her solo career is not successful she can expect to earn only £0.25 m in the next three years. What should she do?