The following payoff table shows profit for a decision analysis problem with two decision alternatives and three states of nature.

Decision Alternative	States of Nature
s1	s2	s3
d1	260	110	35
d2	110	110	85

The probabilities for the states of nature are

P(s₁) = 0.65,

P(s₂) = 0.15,

and

P(s₃) = 0.20.

(a)What is the optimal decision strategy if perfect information were available?If

s₁

then ? d d d or d ; If

s₂

then ? d d d or d ; If

s₃

then ? d d d or d .(b)What is the expected value for the decision strategy developed in part (a)?(c)Using the expected value approach, what is the recommended decision without perfect information? What is its expected value?The recommended decision without perfect information is ? d d d or d .

EV =

(d)What is the expected value of perfect information?

EVPI =