Question: Based on the information given below, respond to questions 1 1 and 1 4 Alices an aspiring author, is considering pitching her book to a

Based on the information given below, respond to questions 11 and 14
Alices an aspiring author, is considering pitching her book to a publishing house. The publishing house may decide to reject the book, but they may also choose to offer a publishing deal with either a one-year or two-year contract. Alice has two options: pitch her book and wait for the publishing house's decision or self-publish the book. The potential outcomes and corresponding proflts (in thousands of dollars) for different scenarios are as follows:
\table[[State of Nature],[Decision Alternative,Reject, s1,1 Year, s2,2 Years, ss,],[Pitch Book, d1,-80,40,150,],[Self-Publish, d2,,00,110,]]
The probabilities for the states of nature are P(s1)=0.30,P(s2)=0.30, and P(s3)=0.40. Alice also has the option to hire a literary agent who can evaluate the book's market potential for a fee of $5000. Assume that the agency review will result in a favorable (F) or an unfavorable (U) neview and that the following probabilities are relevant:
P(F)=0.69,P(s1|F)=0.11,P(s1|U)=0.41
P(U)=0.31,P(s2|F)=0.33,P(s2|U)=0.24
,P(s3|F)=0.56,P(s3|U)=0.35
P(s1|U)=0.41
P(s2|U)=0.24
11. How much is EVPI in this decision-making problem? (6 points)
a.16
b.29
c.24
(d.)28
12. What is the recommended decision? (8 Points)
a. No Agency, self-publish.
b. No Agency, pitch book.
c. hire a literary agent, if favorable self-publish, if unfavorable pitch book.
(d. hire a literary agent, if favorable pitch book, if unfavorable self-publish.
13. How much is EVSI in this decision-making problem? (6 points)
a.6.1
(b.)5.8
c.7.4
d.8.4
14. What is the efficiency of the sample information survey (agent evaluation)?(5 points)
a.35.2%
(b.)20.7%
c.34.6%
d.51.9%
 Based on the information given below, respond to questions 11 and

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