Consider the following payoff matrix for a decision-making problem: Determine the best alternative as a function of (Pleft(theta_{1} ight)=p), where (0 leq p leq 1).

Consider the following payoff matrix for a decision-making problem:

Determine the best alternative as a function of \(P\left(\theta_{1}\right)=p\), where \(0 \leq p \leq 1\). What is the best alternative for \(p=0.3\) ? What is the value of perfect information for \(p=0.3\) ?

0 States 02 Alternative A Alternative B 100,000 -40,000 50,000 -10,000 Alternative C 0 0