Question: 3 a) Establish a relationship between the expected value of perfect information (EVPI) and EMV. The expected net benefit with available information is Tk40 million.

3 a) Establish a relationship between the

3 a) Establish a relationship between the expected value of perfect information (EVPI) and EMV. The expected net benefit with available information is Tk40 million. However, if perfect information could be collected, the expected net benefit would be Tk45 million with an additional cost of Tk2 million. What is the EVPI? Will you recommend going for perfect information? Why

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