Question: The following payoff table provides profits based on various possible decision alternatives and various levels of demand at Robert Klassan's print shop: Decision Alternative 1

The following payoff table provides profits based

The following payoff table provides profits based on various possible decision alternatives and various levels of demand at Robert Klassan's print shop: Decision Alternative 1 Alternative 2 Alternative 3 The probability of low demand is 0.40, whereas the probability of high demand is 0.60. a) The alternative that provides Robert the greatest expected monetary value (EMV) is Demand Low $12,000 $5,000 - $2,000 High $24,000 $40,000 $50,000 The EMV of this decision is (enter your answer as a whole number). b) The expected value of perfect information (EVPI) for A (enter your answer as a whole number)

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