Custom Home Designs
Three different designs are being considered for new custom homes,and profits will depend on the combination of the custom home design and market condition.The following payoff table summarizes the decision situation,with amounts in millions of dollars. 
Assume that the following probabilities are assigned to the three market conditions: P(s1)= 0.1,P(s2)= 0.6,and P(s3)= 0.3.
-{Custom Home Designs Narrative} What is the most the firm would be willing to pay for a research study designed to reduce its uncertainty about market conditions?
Definitions:
Market Baskets
A set of consumer products or services used to track price changes and inflation over time.
GDP Per Capita
A measure of a country's economic output that accounts for its number of people, providing an average economic well-being indicator.
Happiness
A state of well-being and contentment, often considered as an aim of human life.
Satisfaction
The fulfillment of one's wishes, expectations, or needs, or the pleasure derived from this.
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