The operations manager for a well-drilling company must recommend whether to build a new facility, expand his existing one, or do nothing. He estimates that long-run profits (in $000) will vary with the amount of precipitation (rainfall) as follows: ALTERNATIVE PRECIPITATION LOW NORMAL HIGH Do Nothing (100) 100 300 Expand Build New 350 500 750 300 200 0 If he feels the chances of low, normal, and high precipitation are 30 percent, 20 percent, and 50 percent respectively, what is his expected value of perfect information?