Question: Consider the following payoff table that represents the profits earned for each alternative (A, B, and C) under the states of nature S1, S2, and

Consider the following payoff table that represents the profits earned for each alternative (A, B, and C) under the states of nature S1, S2, and S3. S1 S2 S3 A $60 $145 $120 B $75 $125 $110 C $95 $85 $130 Refer to the payoff table. What is the expected value of perfect information (EVPI)? Assume P(S1) = 0.5 and P(S2) = 0.25.

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