1-22 Value of Information You own a shop that sells and services bicycles. Your partner wants your approval for adding a line of bicycles that will retail for $100. 7. Will you add the line? What data would be particularly important to you to help you decide? 2. What is the value of the data regarding your prospective unit purchase cost of bicycles? How accurate must the data be? For instance, suppose you know that the purchase cost does not exceed $60, but you are unsure whether the purchase cost is really $48, $54, or $60. If the minimum acceptable gross profit per unit is $40, how much would you be willing to pay for a cost estimate that is more accurate than "cost does not exceed $60"?