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For this problem refer to the “Assignment 7 Problem 10” Excel file posted in the Week 7 folder. a) Complete the worksheet “a) Cond. Prob.” as explained on pages 521-523 of the book. (5 points) b) Provide the EMV of the optimal decision without the consultant’s assistance. (5 points). c) This part requires the construction of a decision tree to analyze the decision problem if the consultant is hired. The template of this decision three is provided in the worksheet “Tree diagram”. The inputs needed are highlighted with different colors and these include the conditional probabilities from part a, the payoffs from problem 9 and the probabilities that the consultant forecasts low, medium and high demands. Once you complete the tree diagram with these numbers,

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Assignment 7 Rubric (60 points) Tutorials videos https://youtu.be/9re2LZpEzyc https://youtu.be/h9rASvjXxhI https://youtu.be/r7HEKtockRs https://youtu.be/RRrBzAd2pxs   Problem 9 (25 points) This problem consists of […]

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