Question: The construction manager for Acme Construction, Inc., must decide whether to build single - family homes, apartments, or condominiums. He estimates annual profits ( in

The construction manager for Acme Construction, Inc., must decide whether to build single
-
family homes, apartments, or condominiums. He estimates annual profits
(
in $
0
0
0
)
will vary with the population trend as follows: Type Single Family Apartments Condos POPULATION TREND Declining Stable
2
0
0
9
0
7
0
1
7
0
-
2
0
1
0
0
Growing
7
0
9
0
2
2
0
he feels the chances of declining
,
stable, and growing population trends are
4
0
percent,
5
0
percent, and
1
0
percent, respectively, what is his expected value of perfect information? $
1
8
7
,
0
0
0
$
1
3
2
,
0
0
0
$
1
2
3
,
0
0
0
$
6
5
,
0
0
0
$
5
5
,
0
0
0

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