2. ABC Chemicals are planning to start manufacturing a new pharmaceutical product. Initially, they must decide whether to go for large-scale or small-scale production. Having made this decision, the profits that they make will also depend on (i) the state of the economy over BUS 606 Fall 2021 the next 2 years; (ii) whether or not a rival manufacturer launches a similar product; and (iii) the amount which ABC decides to spend on advertising the product (this decision will itself be influenced by the scale of production which ABC opt for, whether a rival product is launched and the state of the economy). a. Use an influence diagram to represent the above decision problem, stating any assumptions you have made. b. Use your influence diagram to derive the outline of a decision tree which could be used to represent ABC’s problem
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