Use decision tree to decide how to proceed


Assignment Task: Dana Al-Khayyal is planning her participation to the TV contest "Who Wants to be Rich". In this contest Dana will be required to answer to a sequence of three consecutive questions. If she provides a correct answer to a question then she has to decide whether to go on to the next question or to stop playing. If she stops playing after correctly answering the first question then she receives 10,000. If she stops after providing a correct answer to the second question then she receives 50,000, and if she correctly answers the third question then she will receive 250,000. However, if she provides a wrong answer to any of the second or third question then she receives 5,000 (and no award if she fails at the first question). Dana estimates that the probabilities that she will correctly answer the first, second, third and fourth question are 0.80, 0.40, and 0.15, respectively.

Dana wants to use a decision tree to decide how to proceed.

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Other Management: Use decision tree to decide how to proceed
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