Assignment:
Samuel Cartwright is suing over a workamnship defect in a data backup system that cost him 3 years of client data. He is suing for $1 million, and the manufacturer is offering hin an out-of-court settlement of $450,000, of which Samuel will receive $400,000. Samuel's lawyer advises him that cases like his do not tend to do well if they reach court, but that the company offered to settle to protect its reputation. If he goes to court, he has only a 30% chance of winning. If he goes to court and loses, he will incur $50,000 in lawyer's fees and court costs, Can you create a decision tree to represent the situation? What is the expected value of going to court? What should Samuel do?