Question: Calculate EV and EVPI using the following payoff table, which depicts the profits earned by each alternative under different state of nature and calculate EV

Calculate EV and EVPI using the following payoff table, which depicts the profits earned by each alternative under different state of nature and calculate EV and EVPI.

Status 1 Status 2 Status 3

P = 0.5 P = 0.2 P = 0.3

A1 $ 60 $ 145 $ 120

A2 $ 75 $ 125 $ 110

A3 $ 95 $ 85 $ 130

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