A student already has offers of employment. She must now decide whether to visit another potential employer for further interviews. She views the time and effort of doing so as a cost of 5500, which will be incurred whether or not she takes a job with this employer. If the employer offers a position preferable to her other alternatives, this would be viewed as a benefit worth $5.000 (from which the $500 cost must be subtracted). Otherwise her time and effort would have been wasted.

(a) Set up the payoff table for the student's decision-making problem.

(b) Suppose the student believes that the probability is .05 that she would be offered by this employer a position preferable to her other alternatives. According to the ex- pected monetary value criterion, should she visit this potential employer?"