Question: With reference to the decision described in Question 8, suppose that the food manufacturer had to decide whether it was worth paying for the forecast

With reference to the decision described in Question 8, suppose that the food manufacturer had to decide whether it was worth paying for the forecast derived from the forecasting tool, before making his decision. The expected value of the 'imperfect' information obtained from the method would have been:

Select one:

a. $0

b. $2,700

c. $5,000

d. $7,800

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