A corporate raider contemplates the future of a recent acquisition. Three alternatives are being considered in two states of nature. The payoff table with prior probabilities is given below.

Given, EVwoPI = $865

Suppose a Survey can be run to test the foreign competitive condition. In past uses, this survey has been shown to predict Good Foreign Competitive condition in 70 % cases when there was a really a Good Foreign Competitive condition and, They predicted Poor Foreign Competitive condition in 80 % cases when there was a really a Poor Foreign Competitive condition.

Let us define the following: g = good foreign competitive conditions p = poor foreign competitive conditions X1 = Survey predicts good foreign competitive condition X2 = Survey predicts poor foreign competitive condition

Use this information to complete and write the final value the following in each blank (rounded to THREE Decimal places):

NOTE: Write only the values, do not put $ and comma symbol

All posterior probabilities:

Blank 1: P(gIX1) = _____

Blank 2: P(pIX1) = _____

Blank 3: P(gIX2) = _____

Blank 4: P(pIX2) = _____

Then, calculate and write down the final value (rounded to THREE decimal places) of EVwSI.