The decision tree with branch probabilities and expected values is as follows: A

Question

The decision tree with branch probabilities and expected values is as follows: Approved .6585 1,985,000 Highest Bid EV 1,131,250 .2 Rejected 3415 515,000 Bid 6 EV 214,250 Predicts Approval Not Highest Bid Do Not Bid 15,000 Approved 0508 1,985,000 Market Research Highest Bid .2 2EV 78,993 10 EV-:-388,000 Rejected 9492 515,000 Bid 7EV--89,600 Predicts Not Highest Bid 15,000 Rejection .59 Do Not Bid 15,000 Approved 2,000,000 .3 11EV-250,000 Rejected Highest Bid .2 500,000 Bid 8EV- 50,000 No Market Research Not Highest Bid Do Not Bid

Explanation / Answer

There seems to be some confusion as these values(the probabilities) have to be given to you in the question and cannot be calculated without it.

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