Sample Information Data: Market Research Firm provides following data: Prediction of market conditions: Fav or Unfav Conditional probabilities: P(fav/s1)= 0.40, P(fav/s2)= 0.5, P(fav/s3)= 0.9.
P(s1)=0.4, P(s2)=0.4, P(s3)=0.2.
a. EV with PI=
b. EV with SI=
Payoff Table:

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States of Nature Decision Alternative s1: s2: s3: D1: $100 $400 $500 D2: -$100 $500 900 D3: $500 1600 - $200