11. Zink Inc. is planning to market a new product. If the product is successful (S) it stands to make a net profit of $950,000; if it fails (F), the net loss will be S650,000. The management believes that there is a 45% chance of success. Alternatively, they can hire the services of a marketing research company, which could do a survey to get a better understanding of the chances o success(S) or failure (F) of t into a report which can be described either as a Green report (G) favoring the project or a R report (R) declaring the project as unfavorable. he project. The marketing research company summarizes its finding ed (i) Wri te ALL the priors using notation given in the problem. (10) all the posteriors that you would use in estimating your actions if you are to decide on (i) Write whether or not to hire the research company. Incorrect posteriors may affect your answers and therefore the score you receive in solving the decision tree.(20)

11. Zink Inc. is planning to market a new product. If the product is successful (S) it stands to make a net profit of $950,000; if it fails (F), the net loss will be S650,000. The management believes that there is a 45% chance of success. Alternatively, they can hire the services of a marketing research company, which could do a survey to get a better understanding of the chances o success(S) or failure (F) of t into a report

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