Problem
1. Is it possible to solve a decision-tree version of a problem and an equivalent influence-diagram version and come up with different answers? If so, explain. If not, why not?
2. Explain in your own words what it means when one alternative stochastically dominates another.
3. The analysis of the Texaco-Pennzoil example shows that the EMV of counteroffering with $5 billion far exceeds $2 billion. Why might Liedtke want to accept the $2 billion anyway? If you were Liedtke, what is the smallest offer from Texaco that you would accept?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.