A person is trying to decide if they should buy a lottery ticket. The ticket costs $2.00. If the ticket is a winner, the prize would be $1,000. Knowing that winning $1,000 is not a certain outcome (state of nature) , the person finds that the probability of winning is 0.001. Based on this information, the following payoff table can be constructed: 
What is the value of perfect information?
Definitions:
British Pounds
The official currency of the United Kingdom, known as Sterling, symbolized as GBP.
British Chess Set
A specific style of chess pieces, often referred to as the Staunton pattern, that is recognized for its distinguishable design and used officially in competition.
Japanese Yen
The official currency of Japan, used as a medium of exchange within the country.
Toyota Camry
A model of automobile manufactured by Toyota, known for its reliability, fuel efficiency, and appeal in the global midsize sedan market.
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