Question: Using the following table, practice the Expected Monetary Value (EMV), Expected Opportunity Loss (EOL), and Expected Value of Perfect Information (EVPI). Use the .30 for

Using the following table, practice the Expected Monetary Value (EMV), Expected Opportunity Loss (EOL), and Expected Value of Perfect Information (EVPI). Use the .30 for the probability of a Strong Market, .50 for the probability of a Fair Market, and .20 for the probability of a Poor Market. Show your selections (highlight your best alternative). USE HAND CALCULATIONS TO PRACTICE FOR EXAMS. You must show your work for obtaining the points.

	PROFIT ($)
	STRONG MARKET	FAIR MARKET	POOR MARKET
Large facility	550,000	110,000	-310,000
Medium-sized facility	300,00	129,000	-100,000
Small facility	200,000	100,000	-32,000
No facility	0	0	0

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