Based on the following payoff table, answer the following: Alternative A1 A2 A3 Prior Probability S1 52 40 50 30 70 90 30 0.45 0.55 What is the expected value of perfect information? Note: Round your answer to 1 decimal place. EVPI

Based on the following payoff table, answer the following: Alternative A1 A2 A3 Prior Probability S1 52 40 50 30 70 90 30 0.45 0.55 What is the expected value of perfect information? Note: Round your answer to 1 decimal place. EVPI

Essentials of Business Analytics (MindTap Course List)

2nd Edition

ISBN:9781305627734

Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Chapter5: Probability: An Introduction To Modeling Uncertainty

Section: Chapter Questions

Problem 28P

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Question

Nikul

Based on the following payoff table, answer the following:
Alternative
A1
A2
A3
Prior Probability
S1
52
40
50
30
70
90
30
0.45
0.55
What is the expected value of perfect information?
Note: Round your answer to 1 decimal place.
EVPI

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