Construct a decision tree to help Mrs.Rich decide whether or not to purchase insurance.Note that the tree should minimize Mrs.Rich's annual expected total cost,including the possible insurance premium,deductible payment,and damage payment.In your tree,make sure to label all decision and chance nodes and include appropriate costs,payoffs and probabilities.

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The Answer of Construct a decision tree to help Mrs.Rich decide whether or not to purchase insurance.Note that the tree should minimize Mrs.Rich's annual expected total cost,including the possible insurance premium,deductible payment,and damage payment.In your tree,make sure to label all decision and chance nodes and include appropriate costs,payoffs and probabilities.

Construct a Decision Tree to Help Mrs