1. A financial advisor has developed a table of conditional values for the various alternatives (investment options) and states of nature (market conditions).

	states of nature
	(market conditions)
Alternatives	Good	Average	Poor
Gold	$103,000	$72,000	-$33,000
Mutual Funds	$156,000	$65,000	-$31,000
Bond	$39,000	$37,000	$25,000

If the probabilities associated with the states of nature are 0.30 for a good market, 0.60 for an average market, and 0.10 for a poor market, determine:

1. the alternative that provides the greatest expected monetary value (EMV)
2. the expected value of perfect information (EVPI)