A paint company has three sources for buying bright red pigment for their paints: Vietnam, Taiwan, or Thailand. Unfortunately, the pigment is made from a bush whose annual growth is heavily dependent upon the amount of rainfall during the growing season. The tables below show probabilities and prices for wet, dry, and normal growing seasons:
a. Using decision tree analysis, what is the expected value (price) for Thailand?
b. What country should the company select, and what is the expected value (price) associated with it?
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