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 Demand Low High $10,000 $36,000 $6,000 $40,000 - $2,500 $50,000 The probability of low demand is 0.35, whereas the probability of high demand is 0.65. a) The alternative that provides Robert the greatest expected monetary value (EMV) is Alternative 3 The EMV for this decision is $ 31625 (enter your answer as a whole number). b) The expected value with perfect information (EVWPI) = $ (enter your answer as a whole number)

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