The sale of his products is highly dependent on his location

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Reference no: EM132274042

Joseph Biggs owns his own ice cream truck and lives 30 miles from a Florida beach resort. The sale of his products is highly dependent on his location and on the weather. At the resort, his profit will be $100 per day in fair weather, $10 per day in bad weather. At home, his profit will be $70 in fair weather and $45 in bad weather. Assume that on any particular day, the weather service suggests a 50% chance of foul weather.

Construct the correction decision tree.

To maximize the return, for selling ice cream, Joseph's decision should be to use the ___.

Expected monetary value for Joseph =$ (enter your answer as a whole number)

Reference no: EM132274042

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