Alctrex Construction Company is bidding against Betatrex for a building project. Due to past performance of both companies, Alctrex knows that if the company bids a lower or an equal amount, it will win the bid. It will cost Alctrex $9,500 to complete the project. Betatrex’s bid is a random variable B with the following probabilities:

P(B = $9,500) = 0.45 P(B = $10,500) = 0.35 P(B = $12,000) = 0.20 Suppose that Alctrex is thinking of bidding between $9,500 and $12,000 in increments of $500. Determine the profit matrix for Alctrex. What is the best decision for the company? What is the value of perfect information?