What Is the Expected Value of Perfect Information of the Following

question 92

Multiple Choice

What is the expected value of perfect information of the following decision table? States of Nature
$$\begin{array} { | c | c | c | } \hline \text { Alternatives } & \mathrm { S } _ { 1 } & \mathrm {~S} _ { 2 } \\\hline \mathrm { p } & .6 & .4 \\\hline \text { Option } 1 & 200 & 300 \\\hline \text { Option } 2 & 50 & 350 \\\hline\end{array}$$

• A) 0
• B) 20
• C) 50
• D) 150
• E) 200

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Definitions:

Triangulation

An approach in which more than one research method is used in an attempt to more fully understand an area of study.

Mixed Methods

An approach in which both quantitative and qualitative procedures are used.

Participatory Action Research (PAR)

Research that combines an action-oriented goal and the participation of research subjects.

Causality

A relationship in which one variable causes a change in another variable.