a) The alternative that provides the greatest expected monetary value (EMV) is __________.

The EMV for this decision is $___________ (enter your answer as a whole number).

b) For Deborah, the expected value of perfect information (EVPI) = $ ______ (enter your answer as a whole number).

Deborah Hollwager, a concessionaire for the Amway Center in Orlando, has developed a table of conditional values for the various alternatives (stocking decision) and states of nature (size of crowd): Alternatives Large Inventory Average Inventory Small Inventory States of Nature (size of crowd) Large Average Small 520 000 $8.000 - $1,000 $12,000 $16,000 $4,000 $9,000 $4,000 $5,000 Probabilities associated with the states of nature are 0.25 for a large crowd, 0.45 for an average crowd, and 0.30 for a small crowd