QUESTION 4 A plant manager considers the operational cost per hour of five machine alternatives. The cost per hour is sensitive to three potential weather conditions: cold, mild, and warm. The following table represents the operations cost per hour for each alternative-state of nature combination: Altematives Machine 1 Machine 2 Machine 3 Machine 4 States of Nature Weather related cost per hour Cold cost/day Mild cost/day Wam cost/day $50 $40 $45 $45 $42 $47 $40 $35 $54 $60 $25 $48 $45 $40 $45 Machine 5 Assume that for a randomly selected day, there is a 30% probability of cold weather, 50% probability of mild weather, and 20% probability of warm weather. What is the EVPI? $5.8 $3.2 $6.6 $1.6