The Getz operations manager would like to calculate the maximum that he would pay for information that
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The Getz operations manager would like to calculate the maximum that he would pay for information—
that is, the expected value of perfect information, or EVPI.
APPROACH c Referring to Table A.3 in Example 4, he follows a two-stage process. First, the expected value with perfect information (EVwPI) is computed. Then, using this information, the EVPI is calculated.
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Related Book For 
Operations Management: Sustainability And Supply Chain Management
ISBN: 9780135225899,9780135202722
13th Edition
Authors: Jay Heizer; Barry Render; Chuck Munson
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