A guy (lets call him Frank) is working in a software company Custom Paper

Frank has decided to ask his boss for a yearly raise of 10000 Dkr. Before asking for the raise, Frank should decide whether to better himself by following a course (at his own expense) with the aim of improving his chances of getting the raise. Frank can decide either to follow an AttoSoft certification course (at a cost of 3000 Dkr), module 1 of the BSS course provided by AAU (at a cost of 5000 Dkr), or he can decide not to follow any of the courses. Frank only has time to follow one of the courses, but if he decides to follow module 1 of the BSS course (and if he passes the course), then he can decide to follow module 2 of the course (which is the final module and costs 2000 Dkr).

The probability that Frank will get the raise is 0.2 if he decides not to follow any of the courses, 0.4 if he passes the AttoSoft certification course, 0.6 if he passes module 1 of the BSS course, and 0.8 if he passes both module 1 and module 2 of the BSS course.

The probability that Frank will get the raise if he fails a particular course is the same as if he had not followed the course at all. The probability that Frank will pass either the Attosoft course or module 1 of the BSS course is 0.9 and the probability that he will pass module 2 of the BSS course is 0.8.

a) Construct a decision tree for the Frank’s decision problem with a two-year time horizon, identify the Estimated Monetary Value of each option and so enable Frank to take the best decision.

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