Use Excel to calculate and answer the following problem. Be sure to use formulas and format for in a way that makes it easy for the reader/audience to understand. Be sure to note the answers to the questions with a cell note, cell formatting/legends, or a statement in the spreadsheet. Provide a separate tab for each part of the problem (EV, EOL, EVPI). Submit an Excel document. 1 point per problem for correct answer, 3 points per problem for accurate formulas, 1 point for setup/format per problem, 1 point per problem for calling out answers clearly, 2 points for submitting in Excel.

You are the financial analyst at a real estate development company. Your manager asked you to assess the value of three potential future development projects and select the most promising one. According to estimates, Project A shows a 40% probability to achieve a value of $2,000,000 and a 60% probability to achieve a value of $450,000. Project B shows a 35% probability to achieve a value of $3,000,000 and a 65% probability to achieve a value of $200,000. Project C shows a 45% probability to achieve a value of $1,500,000 and a 55% probability to achieve a value of $700,000. Which project should you select based on Expected Value? If the probabilities were changed to 35%/65% for all three projects which project would you choose based on Expected Value of Opportunity Loss? In this second scenario, what is the Expected Value of Perfect Information?