Question: Consider the following problem for the payoff table (Profit S) with four decision alternatives and three states of nature: S $2 53 pro.16 p=0.28 p=

Consider the following problem for the payoff table (Profit S) with four decision alternatives and three states of nature: S $2 53 pro.16 p=0.28 p= 1 38 62 D 8 34 53 Dy 14 26 41 Da 16 22 47 What is the expected value of perfect information (EVPI) ($) for the payoff table? (Hint: You can calculate the Expected value with perfect information (EVWPI)-(16*0.16+38 0.28+62 (1-0.16-0.28))) (Round your answer to 2 decimal places)

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