1.Please answer is fast ASAP ? Which item is NOT false:Select onea. Long-run average payoff. Expected or average amount that would be achieved if a large number of identical decisions were to be made.O b. Value of Information. low limit on the amount decision maker should pay to obtain information about which state of nature will occur.C. The second step in Decision Analysis Process Framing: Identify the situation and understand the goals.d. In the Decision Analysis Process What is suggested first to the decision maker no influences the decision The manager for a company must recommend whether to build a new large facility, medium one, or do nothing He estimates that long-run profits (in $000) will vary with the rate ofinflation as follows:ALTERNATIVEINFLATIONLOWNORMALHIGHDo Nothing-100100300Large350500200Medium75030050If he feels the chances of low, normal, and high inflation are 30%, 30%, and 40%, respectively, what is his expected value of perfect information?Select onea. 335000b 495000c. 120000d. 160000e. 285000

Introduction 1) correct answer: Its correct answer is d) In the decision analysis process: what is…

The manager for a company must recommend whether to build a new large facility, medium one, or do nothing. He estimates that long-run profits (in $000) will vary with the rate of inflation as follows: ALTERNATIVE INFLATION LOW NORMAL HIGH Do Nothing -100 100 300 350 500 200 Large Medium 750 300 50 If he feels the chances of low, normal, and high inflation are 30%, 30%, and 40%, respectively, what is his expected value of perfect information? Select one: • a. 335000 b. 495000 c. 120000 d. 160000 e. 285000 A

The manager for a company must recommend whether to build a new large facility, medium one, or do nothing. He estimates that long-run profits (in $000) will vary with the rate of inflation as follows: ALTERNATIVE INFLATION LOW NORMAL HIGH Do Nothing -100 100 300 350 500 200 Large Medium 750 300 50 If he feels the chances of low, normal, and high inflation are 30%, 30%, and 40%, respectively, what is his expected value of perfect information? Select one: • a. 335000 b. 495000 c. 120000 d. 160000 e. 285000 A

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter1: The Art And Science Of Economic Analysis

Section: Chapter Questions

Problem 2.5P

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