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The following payoff table has been developed by a professor that indicates the payoffs associated with a set of decision alternatives under two possible states
The following payoff table has been developed by a professor that indicates the payoffs associated with a set of decision alternatives under two possible states of nature. Compute the expected value of perfect information assuming that the probability of being fired is equal to 0.4. Tenure Fired Teach at another university $120,000 $20,000 Apply for the dean's job $40,000 $180,000 Go into industry $30,000 $250,000
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