1. The highest value for the equally likely criterions is ________; this occurs with alternative ______. (1.5 pts)

States of Nature

Alternatives Option 1	S1 $10,000	S2 $30,000
Option 2	$5,000	$45,000
Option 3	$-4,000	$60,000

	States of Nature
Alternatives	S1	S2
p	0.6	0.4
Option 1	200	300
Option 2	50	350

2. What is the EMV for Option 1 in the following decision table?

3. What is the EMV for Option 2 in the following decision table?

4. What is the expected value under certainty in the following decision table? (EVwPI)

5. What is the expected value of perfect information? (EVPI)