Is considering move from downtown to new shopping mall

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Reference no: EM131686183

Harry Phelps, owner of Harry's Clothing Cupboard, is considering a move from downtown to a new shopping mall. Because he has been downtown for 20 years and has built quite a following there, Harry thinks that if he moves there is a 20% chance his business will decline by $100,000, a 30% chance that it will remain stable, and a 50% chance that it will increase by $175,000 because of the quality of sales promotion done by the mall management. Further, the city is considering a downtown revitalization with a plaza in front of Harry's store. He believes there is a 70% chance this will pass the city council: if it does, he estimates his business should increase by $200,000. If the plaza is not built, Harry thinks his downtown business will decline by about $50,000. Time is of the essence: the mall owners need an answer immediately or he will lose any chance to locate there. Construct a decision tree and help Harry decide on a course of action.

Reference no: EM131686183

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