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What is the EVPI for the decision shown in Figure 12.12? Must you perform any calculations? Can you draw any conclusions regarding the relationship between
What is the EVPI for the decision shown in Figure 12.12? Must you perform any calculations? Can you draw any conclusions regarding the relationship between value of information and deterministic dominance? For the decision tree in Figure 12.13, assume Chance Events E and F are independent. a. Draw the appropriate decision tree and calculate the EVPI for Chance Event E only. b. Draw the appropriate decision tree and calculate the EVPI for Chance Event F only. c. Draw the appropriate decision tree and calculate the EVPI or both Chance Events E and F: that is, perfect information for both E and F is available before a decision is made. What is the EVPI for the decision shown in Figure 12.12? Must you perform any calculations? Can you draw any conclusions regarding the relationship between value of information and deterministic dominance? For the decision tree in Figure 12.13, assume Chance Events E and F are independent. a. Draw the appropriate decision tree and calculate the EVPI for Chance Event E only. b. Draw the appropriate decision tree and calculate the EVPI for Chance Event F only. c. Draw the appropriate decision tree and calculate the EVPI or both Chance Events E and F: that is, perfect information for both E and F is available before a decision is made
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