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BAD MARKET 15 ALTERNATIVE Small shop Medium-sized shop No shop Probabilities STATE OF NATURE GOOD AVERAGE MARKET MARKET (S) (S) 75,000 25,000 100,000 35,000 0

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BAD MARKET 15 ALTERNATIVE Small shop Medium-sized shop No shop Probabilities STATE OF NATURE GOOD AVERAGE MARKET MARKET (S) (S) 75,000 25,000 100,000 35,000 0 0 0.20 0.50 - 40,000 -60,000 0 0.30 Given the profit/loss decision table for the project of opening a new shop shown in the table above, find the EVPI (Expected value of Perfect Information) of this project

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