Suppose we are interested in investing in one of three investment opportunities: d1, d2, or d3. The following profit payoff table shows the profits (in thousands of dollars) under each of the 3 possible economic conditions-S1, S2, and S3. The probability of the occurrence of S1 is 0.1, and the probability of the occurrence of S2 is 0.3. 
a.Determine the expected value of each alternative and indicate which decision alternative is the best.
b.Determine the expected value with perfect information about the states of nature.
c.Determine the expected value of perfect information.
Definitions:
Paracelsus
A Swiss physician and alchemist of the late Renaissance period, known for founding the discipline of toxicology and promoting the use of chemicals in medicine.
Victorian Era
A period in British history during the reign of Queen Victoria from 1837 to 1901.
Freud
Sigmund Freud, an Austrian neurologist who founded the discipline of psychoanalysis, focusing on unconscious processes and childhood experiences.
Neurotransmitters
Chemical messengers that transmit signals across a chemical synapse from one neuron (nerve cell) to another 'target' neuron, muscle cell, or gland cell.
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