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A plant manager considers the operational cost per hour of ve machine alternatives. The cost per hour is sensitive to three potential weather conditions: cold,
A plant manager considers the operational cost per hour of ve machine alternatives. The cost per hour is sensitive to three potential weather conditions: cold, mild, and warm. The following table represents the operations cost per hour for each alternative-state of nature combination: States of Nature Weather related cost - - hour mm! comm-mm mmm ___EJ --E-!El mom-25mm Assume that for a randomly selected day, there is a 30% probability of cold weather, 50% probability of mild weather, and 20% probability of warm weather. What is the EVPI? o $7.4 o $1.6 o $5.8 O $6.6 o $3.2
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