K Deborah Hollwager, a concessionaire for the Amway Center in Orlando, has developed a table of...

 

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K Deborah Hollwager, a concessionaire for the Amway Center in Orlando, has developed a table of conditional values for the various alternatives (stocking decision) and states of nature (size of crowd): States of Nature (size of crowd) Average Small - $3,000 $4,000 $5,000 Large $24,000 $12,000 $8,000 Alternatives Large Inventory Average Inventory Small Inventory Probabilities associated with the states of nature are 0.35 for a large crowd, 0.55 for an average crowd, and 0.10 for a small crowd. a) The alternative that provides Deborah the greatest expected monetary value (EMV) is The EMV for this decision is $ (enter your answer as a whole number). b) For Deborah, the expected value of perfect information (EVPI) S (enter your answer as a whole number). $10,000 $12,000 $4,000 K Deborah Hollwager, a concessionaire for the Amway Center in Orlando, has developed a table of conditional values for the various alternatives (stocking decision) and states of nature (size of crowd): States of Nature (size of crowd) Average Small - $3,000 $4,000 $5,000 Large $24,000 $12,000 $8,000 Alternatives Large Inventory Average Inventory Small Inventory Probabilities associated with the states of nature are 0.35 for a large crowd, 0.55 for an average crowd, and 0.10 for a small crowd. a) The alternative that provides Deborah the greatest expected monetary value (EMV) is The EMV for this decision is $ (enter your answer as a whole number). b) For Deborah, the expected value of perfect information (EVPI) S (enter your answer as a whole number). $10,000 $12,000 $4,000

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