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Andrew Thomas, a sandwich vendor at Hard Rock Cafe's annual Rock fest, created a table of conditional values for the various alternatives (stocking decision) and
Andrew Thomas, a sandwich vendor at Hard Rock Cafe's annual Rock fest, created a table of conditional values for the various alternatives (stocking decision) and states of nature (size of crowd): The probabilities associated with the states of nature are 0.25 for a big demand, 0.45 for an average demand, and 0.30 for a small demand. a) The alternative that provides Andrew Thomas the greatest expected monetary value (EMV) is. The EMV of this decision is $ (enter your answer as a whole number). b) The expected value of perfect information (EVPI) for Andrew Thomas = (enter your
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