QUESTION: Marc Champlaeux, the owner of Green Mountain Organic Farm has to decide which crop to plant in his 100 acre farm in St. Albans, Vermont. The yield of each crop is dependent upon the amount of rainfall during the growing season. Based on his past experience, he estimated the following profit payoff table Decision Alternatives States of Nature (Rainfall forecast) Crop A Crop B Crop C High (S,) 40,000 32,000 51,000 Average (S,) 30,000 48,000 26,000 Low (S,) 10,000 -18,000 -6,000 Suppose the probabilities for High, Average, and Low rainfall forecast are 0.3, 0.3, and 0.4 respectively a. Specify the best decision alternative using the Expected Monetary Value (EMV) method. b. What is the expected value of perfect information (EVPI)