Question: Exhibit 20-4 Below is a payoff table involving two states of nature and three decision alternatives. Decision States of Nature Alternative s 1 s 2

Exhibit 20-4 Below is a payoff table involving two states of nature and three decision alternatives.

Decision States of Nature
Alternative s1 s2
A 15 12
B 16 12
C 20 6

The probability of occurrence of s1 = .3. Refer to Exhibit 20-4. The expected value of perfect information is _____.

a. 1.2
b. 1.5
c. 4.8

d. 1.0

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