Based on the below decision tree and the following probabilities answer the belo

Question

Based on the below decision tree and the following probabilities answer the below question: Probability of an improving economy is 0.68, When you have an improving economy the probability of high demand is 0.7 When you have a not improving economy the probability of high demand is 0.34 Decision alternative State of Nature Payoff High Demand Low Demand 2200 1400 - A. Expand E. Improving Economy High Demand Low Demand 1800 1700 7G High Demand Low Demand C. Expand F. Not Improving Economy High Demand Low Demand D. Outsource What is the value of G? Answer Format: Number. Round to: 2 decimal places. Enter Answer Here...

Explanation / Answer

Dear student, only the first question is being answered as per Chegg guidelines. Please post one question is one go.

The value of G will be the sum of the probablities of the two events of improving economy and non-improving economy.

The sum of the probabilities will be one.

so G=1

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