Question: D1 QUESTION 1 Consider the following problem for the payoff table (Profit S) with four decision alternatives and three states of nature: S1 S2 S3

D1 QUESTION 1 Consider the following problem for the payoff table (Profit S) with four decision alternatives and three states of nature: S1 S2 S3 p=0.13 p=0.29 p= 16 23 41 D2 33 D3 12 27 46 D4 1 39 63 What is the expected value of perfect information (EVP) ($) for the 4 alternatives? (Hint: You can calculate the Expected value with perfect information (EVWPI) = (16*0.13+39*0.29+39"(1-0.13-0.29))) 7 52

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