Refer to Exercise 25.

The manufacturer is considering an advertising campaign and first seeks the advice of a media consultant.

(a) What is the expected value to the manufacturer of the media consultant's advice?

(b) The media consultant charges a fee of $5.000. What is the expected net value of the consultant's advice?

(c) This manufacturer faces a two-stage decision problem. First, he must decide whether to purchase advice from the media consultant. Next, he must decide whether to mount. the advertising campaign. Draw the complete decision tree, and indicate how the man- ufacturer should proceed.