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: Sl, 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:
Data Warehouse
A centralized repository for storing, managing, and analyzing large sets of structured data from various sources.
Internal Data Sources
Information collected from within an organization, used for decision making and strategic planning.
Test Market
A geographic region or demographic group used by companies to evaluate the potential success of a new product or service before a wider release.
Kellogg's Cereal
A brand of breakfast cereals produced by the Kellogg Company, known for its wide range of products.
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