Question: Hard Rock Hotel Choices table [ [ , , , SITEY ] , [ Current purchase price, 2 7 , 1 5 , ]
Hard Rock Hotel Choices
tableSITEYCurrent purchase price,Profits if airport and hotel built at this site,Sales price if airport not built at this site,
Hard Rock determines there is a chance the airport will be built at hence a chance it will be built at
Set up the decision table.
What should Hard Rock decide to do to maximize total net profit?
How much should Hard Rock be willing to pay for accurate information ie What is the Expected Value of Perfect Information, EVPI?
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