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The athletics department at the University is considering whether to hold an extensive fundraising campaign next year for a new athletic field. The response
The athletics department at the University is considering whether to hold an extensive fundraising campaign next year for a new athletic field. The response to the campaign largely depends on the success of the football team this fall. In the past, the football team won at the end of the season 60% of the time. If the football team wins (W) this fall, then many of the graduates will donate and the campaign will raise $3 million. If the team loses this season (L), few will contribute and the cost of the campaign will be $ 2 million. If no campaign is carried out, no costs will be incurred. On September 1, shortly before the start of the football season, the athletics department has to make its decision whether to hold the campaign next year. Write a reward table that corresponds to the possible decisions and possible natural conditions, and determine according to the criterion maximum reward expectation, will the campaign be carried out? Calculate the EVPI
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