Question: The expected payoff under certainty is $18.3 and the expected value of perfect information is $1.6. What is the expected payoff under risk? a)$16.7 b)$17.5

The expected payoff under certainty is $18.3 and the expected value of perfect information is $1.6. What is the expected payoff under risk?

a)$16.7

b)$17.5

c)Can not be determined without probabilities

d)$19.9

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