Question: 4. Consider the accompanying payoff table below. Demand Alternative Level 1 Level 2 Level 3 Level 4 A 500 500 500 500 B -200 1100

4. Consider the accompanying payoff table below. Demand Alternative Level 1 Level 2 Level 3 Level 4 A 500 500 500 500 B -200 1100 1100 1100 C -1200 200 1600 1600 D -1800 -600 700 2200 Probability 0.2 0.3 0.4 0.1 a. What choice should be made under expected value? b. Compute the Expected Value of Perfect Information (EVPI)?

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