Question: Please solve for the EVPI or don't solve at all. Thanks in advance. An orange grower in Florida faces a dilemma. The weather forecast is
Please solve for the EVPI or don't solve at all.
Thanks in advance.

An orange grower in Florida faces a dilemma. The weather forecast is for cold weather, and there is a 50% chance that the temperature tonight will be cold enough to freeze and destroy his entire crop, which is worth $50,000. He can take two possible actions to try to alleviate his loss if the temperature drops. First, he could set burners in the orchard; this would cost $5,000, but he could still expect to incur damage of $17,500. Second, he could set up sprinklers to spray the trees. If the temperature drops, the water would freeze on the fruit and provide some insulation. This method is cheaper ($2,000), but less effective. With the sprinklers, he could expect to incur a loss of $27,500. Apart from the above two actions, he may also choose to not take any action. Find EVPI for the weather conditions (freeze or not). Please draw a decision tree and solve for the EVPI for weather conditions (freeze not freeze). This is NOT looking for the EMV's only. If you don't know how to compute EVPI using probabilities and the necessary added branch to the tree, please do not solve. An orange grower in Florida faces a dilemma. The weather forecast is for cold weather, and there is a 50% chance that the temperature tonight will be cold enough to freeze and destroy his entire crop, which is worth $50,000. He can take two possible actions to try to alleviate his loss if the temperature drops. First, he could set burners in the orchard; this would cost $5,000, but he could still expect to incur damage of $17,500. Second, he could set up sprinklers to spray the trees. If the temperature drops, the water would freeze on the fruit and provide some insulation. This method is cheaper ($2,000), but less effective. With the sprinklers, he could expect to incur a loss of $27,500. Apart from the above two actions, he may also choose to not take any action. Find EVPI for the weather conditions (freeze or not). Please draw a decision tree and solve for the EVPI for weather conditions (freeze not freeze). This is NOT looking for the EMV's only. If you don't know how to compute EVPI using probabilities and the necessary added branch to the tree, please do not solve