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Sue Reynolds has to make decision if she must get information (at cost of $300,000) to invest in retail store. if she obtains information, there is a 0.45 probability that information will be favorable and 0.55 probability that information will not be favorable. If information is favorable, there is 0.9 probability that store will be success. If information is not favorable probability of successful store is only 0.2 without any information, sue evaluates that probability of successful store will be 0.6 A successful store will give return of $120,000. if store is built but is not successful, Sue will see loss of $90,000. of course, she could always make decision not to build retail store.

1) Create decision tree.
2) what do you suggest?

Project Management, Management Studies

  • Category:- Project Management
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