Given is a Decision Tree Diagram. The Payoffs 1-14 are given in the table below. Answer questions a, b, and c.1/3PayOff 5..1/3PayOff 21/3PayOff 30.300.50PayOff 4PayOff 5Alternative A0.20PayOff 6Alternative B0.300.501/3PayOff 71/32PayOff 81/3PayOff 95PayOff 10PayOff 110.20PayOff 121/26PayOff 1331/2PayOff 14Payo123567891011121314ff$5-252925-5344-376a) The value at node 4 is Blank 1 b) The value at node 8 is Blank 2 (in 1 decimal place) c) The best course of action or decision is to selectalternative Blank 3

Sure, I can help you answer the questions about the decision tree diagram.a) The expected value at…

Answered: Given is a Decision Tree Diagram. The…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter9: Decision Making Under Uncertainty

Section: Chapter Questions

Problem 30P

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