ABC Condominium Corp. of Baguio City, recently purchased land and is attempting to determine the size of the condominium development it should build. It is considering three sizes of development: small d1; medium d2; and large d3. With the three levels of demand- low (s1), medium (s2) and high(s3), the company's management has prepared the following profit payoff table:

State of Nature Decision Alternatives Low (SL) Medium ($1 ) High (51) di - Small Condo 400,000 400,000 400,000 d2 - Medium Condo 100,000 600,000 600,000 da - Large Condo (300,000 300,000 900,000 Required: 1. Assuming the probabilities for the state of nature are P(3 ) = 0.20; P(s:) = 0.35andP(s:) = 0.45, what decision should ABC Condominium Corp make? 2. What is the relevant income in ABC's decision? 3. At how much will the "Medium condo, high demand" payoff would be indifferent between the "Medium condo" and "Large condo" decisions, given all other applicable data input items remain the same? 4. Compute for the Expected Value of Perfect Information. 5. Suppose that before making a final decision, ABC Condominium Corp is considering conducting a survey to help evaluate the demand for the new condominium development. The survey report anticipated to indicate one of the two levels of demand: weak (W) or strong (S). The relevant probabilities are as follows: P(W/SI) = 0.75 P(S =1) = 0.25 P(W S2) = 0.70 P(S ) = 0.30 P(Wa) = 0.45 P(S ) = 0.55 A. What is the expected Value with sample information? B. What is the expected value of sample information? C. What is the efficiency of the survey information (present your answer in decimal number NOT percentage for ex: 0.2000 not 20%)