Question: QUESTION 8 Consider the following problem for the payoff table (Profit S) with four decision alternatives and three states of nature: $ $2 $3 p=0.11

QUESTION 8 Consider the following problem for the payoff table (Profit S) with four decision alternatives and three states of nature: $ $2 $3 p=0.11 p=0.22 p D 3 37 61 D2 8 33 51 D3 11 27 41 D4 16 21 47 What is the expected value of perfect information (EVPI) ($) for the payoff table? (Hint: You can calculate theExpected value with perfect information (EVWPI) (16*0.11+37*0.22+61*(1-0.11-0.22))) (Round your answer to 2 decimal places)

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