Question: Humber Tech is considering starting either a small, regular, or large tech store in Etobicoke. The type of store they open depends on the city's

Humber Tech is considering starting either a small, regular, or large tech store in Etobicoke. The type of store they open depends on the city's market potential which may be high with 40% chance, medium with 30% chance, or low with 30% chance. The potential profits ($) in each case are shown in the payoff table below. Small Regular Large High 4200 5700 6800 Medium 4000 5900 3000 Low 1000 -900 -600 Part A 1. What is the best expected payoff and the corresponding decision using the Expected Monetary Value (EMV) approach? $ Select an answer 2. What is the expected value of perfect information (EVPI)? $

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