Given you can conduct a survey with a 80% chance of correctly identifying the state of...

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Given you can conduct a survey with a 80% chance of correctly identifying the state of nature. The probability the true state of nature is S1 given a survey result of S1 is 80% and the probability the true state of nature is S2 given a survey result of S2 is 80%. In conjunction with the payoffs and probabilities previously outlined in question 1. What is the expected value of this Survey (EV of SI)? Hint: There are two options for the survey (S1 and S2) and two states of nature (S1 and S2). Anytime the survey result and the true state of nature match up, the survey has correctly identified the state of nature. Given state S1, there's an 80% chance survey is correct. Given state S2, there's an 80% chance survey is correct. You may find it helpful to think about the survey this way to put things in the same context as the examples from class: Survey Result of S1 = Favorable and Survey Result of S2 = Unfavorable. The information provided and steps will be just like the examples from class. What is the efficiency of the survey? 0.63 O.47 0.57 .72 Given you can conduct a survey with a 80% chance of correctly identifying the state of nature. The probability the true state of nature is S1 given a survey result of S1 is 80% and the probability the true state of nature is S2 given a survey result of S2 is 80%. In conjunction with the payoffs and probabilities previously outlined in question 1. What is the expected value of this Survey (EV of SI)? Hint: There are two options for the survey (S1 and S2) and two states of nature (S1 and S2). Anytime the survey result and the true state of nature match up, the survey has correctly identified the state of nature. Given state S1, there's an 80% chance survey is correct. Given state S2, there's an 80% chance survey is correct. You may find it helpful to think about the survey this way to put things in the same context as the examples from class: Survey Result of S1 = Favorable and Survey Result of S2 = Unfavorable. The information provided and steps will be just like the examples from class. What is the efficiency of the survey? 0.63 O.47 0.57 .72