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

The construction manager for Acme Construction, Inc. must decide whether to build single-family homes, apartments, or condominiums. The manager estimates annual profits (in $000) will vary with the population trend as follows:
Type POPULATION TREND
Declining Stable Growing
Single Family 2009070
Apartments 7017090
Condos -20100220
If the chances of declining, stable, and growing population trends are 40%,50%, and 10%, respectively, what is the expected value of perfect information?
Question 1 options:
$65,000
$132,000
$55,000
$319,000
$187,000

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