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

	State of Nature
Decision Alternative	S1	S2	S3
d1	200	150	150
d2	250	150	100

The probabilities for the states of nature are P(s1) = 0.55, P(s2) = 0.25, and P(s3) = 0.2.

(a)

What is the optimal decision strategy if perfect information were available?

S1	: - Select your answer -d1d2d1 or d2Item 1
S2	: - Select your answer -d1d2d1 or d2Item 2
S3	: - Select your answer -d1d2d1 or d2Item 3

(b)

What is the expected value for the decision strategy developed in part (a)? If required, round your answer to one decimal place.

(c)

Using the expected value approach, what is the recommended decision without perfect information?

- Select your answer -d1d2Item 5

What is its expected value? If required, round your answer to one decimal place.

(d)

What is the expected value of perfect information? If required, round your answer to one decimal place.