document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=36203>Question 36203</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Hi, a tutor kindly helped me solve a question relating to below earlier, this is the last one I need help on, I'd appreciate any kind of help recieved, thanks\r<BR>\n" );
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document.write( "Sam's Takeaway has the option of carrying out some market research to improve their original estimations of demand.  The report could give two possible results:<BR>\n" );
document.write( "1.	A favourable result<BR>\n" );
document.write( "2.	An unfavourable result.<BR>\n" );
document.write( "If the market research report is favourable the probability of high demand is 0.95 and of low demand 0.05.<BR>\n" );
document.write( "If the market research report is unfavourable the probability of high demand is 0.30 and low demand 0.70.\r<BR>\n" );
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document.write( "(c)	Construct a spreadsheet to work out the branch probabilities of a favourable report and of an unfavourable report.<BR>\n" );
document.write( "(6 marks)\r<BR>\n" );
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document.write( "(d)	Draw the tree diagram showing all of the branch probabilities and work out the decision Sam's Takaway should make. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #22348 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=22348\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> I may be wrong but I think you need one other piece of information <BR>\n" );
document.write( "on this problem.  For example, all the probabilities could be filled<BR>\n" );
document.write( "in if you knew P(high demand|favorable result).  Without another piece<BR>\n" );
document.write( "of info I do not see how you would get the answers requested.<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
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