Question: QUESTION 11 Consider the following problem for the payoff table (Profit $) with four decision alternatives and three states of nature: $1 $2 S3 p=0.14

QUESTION 11 Consider the following problem for

QUESTION 11 Consider the following problem for the payoff table (Profit $) with four decision alternatives and three states of nature: $1 $2 S3 p=0.14 p=0.21 p= D1 3 36 63 D2 34 51 D3 28 41 D4 16 23 48 What is the expected value of perfect information (EVPI) ($) for the payoff table? (Hint: You can calculate theExpected value with perfect information (EVWPI)=(16*0.14+36*0.21+63*(1-0.14-0.21))) (Round your answer to 2 decimal places) 8 14

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