A bakery makes fresh donuts every morning.If any are left at the end of the day they are donated to a homeless shelter.The number of donuts that can be sold each day is uncertain and the bakery must decide early each morning,how many donuts to make that day.The bakery has created the following payoff table to summarize the situation. 
It estimates the following probabilities for the respective levels of demand. 
If the bakery had perfect information about that day's demand,the expected value of perfect information is 60.
Definitions:
Price
The monetary contribution expected, required, or made for acquiring something.
Most Inelastic
Describes goods or services with a demand that is least responsive to price changes; price changes have little effect on the quantity demanded.
Quantity Demanded
The entire quantity of a product or service that buyers are ready and capable of buying at a certain price point.
Price
The amount of money required to purchase a good or service, determined by various factors including supply, demand, production cost, and competition.
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