solution

Create an Excel spreadsheet that produces the calculations for
the PDC decision tree (Figure 4.9 in the textbook). All of the
solutions are in the textbook, with screenshots provided in the
included Powerpoint slides), so check your calculations to make
sure you are getting the correct results. Your spreadsheet cannot
have any hard coding and must provide the following: 1. At Node 3,
the decision found using the Optimistic Approach, 2. At Node 3, the
decision found using the Conservative Approach, 3. At Node 3, the
decision found using the Minimax Regret Approach, 4. At Node 3, the
expected value of perfect information, 5. At each chance node
(circle), the expected payoff, 6. At each decision node (square),
the decision that maximizes the expected payoff, and 7. The maximum
amount you would be willing to pay for the market research
study
 
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