Assume you have a sum of money available that you would like to invest in one of the three available investment plans: stocks, bonds, or money market. The conditional payoffs of each plan under two possible economic conditions are shown below. The probability of the occurrence of economic condition I is 0.28. 
a.Compute the expected value of the three investment options. Which investment option would you select, based on the expected values?
b.Compute the expected value with perfect information (i.e., expected value under certainty).
c.Compute the expected value of perfect information (EVPI).
Definitions:
Generation
Describes a group of individuals, most often within a society, born and living around the same time, sharing similar cultural experiences and historical events.
Socioeconomic Status
A measure of one's combined economic and social position in comparison to others, often based on income, education, and employment.
Life Span
The maximum duration of life of a species or individual, or a narrative account of major events and life stages from birth to death.
Pattern
A repeated decorative design or a regular and intelligible form or sequence discernible in the way in which something happens or is done.
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