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Management of a firm develops a payoff table of profits with relative frequencies of all possible outcomes. Assume that the firm changes its business model.

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Management of a firm develops a payoff table of profits with relative frequencies of all possible outcomes. Assume that the firm changes its business model. Previously, maintaining the decision that yields the highest exptected values was their only choice. Now, orders are placed in advance by their customers via multi-period contracts (blanket purchase orders with release quantities specified), so the exact demand is known with certainty. Management can now determine an optimal decision for each order cycle. Previously, the maximum expected value (EMV) among the decision alternatives was $4924. With the business model changes, the expected value with the perfect information is $9511. What is the expected value of this perfect information

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