Problem 3-28. Construct a decision tree to help analysis this problem. (Use MS Excel). What should the medical professionals do?
Problem 3-29. (a) Develop a new decision tree for the medical professionals to reflect the options now open with the market study. (Use MS Excel) (b) Use the EMV approach to recommend a strategy. (c) What is the expected value of sample information? How much might the physicians be willing to pay for a market study?
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