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The following payoff table has been developed for a decision situation to select an alternative that would give the lowest losses. The probabilities for the

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The following payoff table has been developed for a decision situation to select an alternative that would give the lowest losses. The probabilities for the events 1, 2 and 3 respectively are: p(1) = 0.30, p(2) = 0.50, P(3) = 0.20. events Alternatives 1 2 3 3 500 700 1000 B 900 400 800 C 700 950 600 Calculate the expected value of perfect information for this decision situation by filling in the spaces provided. Expected value with perfect information = Sh Expected value with current information - Sh EVPI =Sh

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