Question: QUESTION 5 Consider the following problem for the payoff table (Profit S) with four decision alternatives and three states of nature: $1 52 53

QUESTION 5 Consider the following problem for the payoff table (Profit S) with four decision alternatives and three states of nature: $1 52 53 p-0.16 p-0.28 p D1 1 38 62 D2 8 34 53 D3 14 26 41 DA 16 22 47 What is the expected value of perfect information (EVPI) ($) for the payoff table? (Hint: You can calculate theExpected value with perfect information (EVWPI) (16'0.16+38 0.28+62*(1-0.16-0.28))) (Round your answer to 2 decimal places)

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