Suppose you're the CEO of local bank whose credit card holders engage in 1 billion credit card transactions for each year; that the likelihood of fraudulent transaction is 2%; that average transaction purchase value for all transactions is equal to $38.50; and that the bank bears full cost of all fraudulent transactions (i.e., you hold the cardholder harmless and lose the money yourself). A technology vendor proposes software solution that will allow you to determine and decline 50% of all fraudulent transaction, thus reducing your fraudulent transaction rate to 1%. What is the maximum amount of money that you would be willing to pay for this investment? Why (please justify using mathematical/statistical tools)? What other information would be important to you in deciding whether the software is worth the investment?