Power Company
A payoff table for a power company is shown below: 
The following prior probabilities are assigned to the states of nature: P(s1)= 0.3,P(s2)= 0.7.
-{Power Company Narrative} What is the expected payoff with perfect information?
Definitions:
Substitute Products
Substitute products are goods or services that can serve as replacements for each other, fulfilling the same need or purpose, and thus, are in competition with one another.
Rivalry
Describes competition or conflict between individuals, organizations, or nations, often driving innovation or improvement.
Cost Leader
A company that gains a competitive advantage by offering its products or services at a lower price than its competitors without sacrificing quality.
Support Activity
Activities within an organization that assist in providing value to customers but do not directly contribute to the primary product or service.
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