Based on the Following Payoff Table, Answer the Following The Expected Value of Perfect Information Is:
A) ?28

question 34

Multiple Choice

Based on the following payoff table, answer the following:
$$\begin{array} { | l | r | r | r |} \hline { \text { Alternative } } & \text { High } & { \text { Medium } } & { \text { Low } } \\\hline \text { A } & 20 & 20 & 5 \\\hline \mathrm { B } & 25 & 30 & 11 \\\hline \mathrm { C } & 30 & 12 & 13 \\\hline \mathrm { D } & 10 & 12 & 12 \\\hline \mathrm { E } & 50 & 40 & - 28 \\\hline \text { Prior Probability } & 0.3 & 0.2 & 0.5 \\\hline\end{array}$$
The expected value of perfect information is:

• A) ?28.
• B) 0.
• C) 10.5.
• D) 19.
• E) 23.

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Definitions:

Strategic Plans

Define long-term needs and set action directions for the organization. Tactical plans are developed and used to implement strategic plans.

Financial Plans

Documents that outline an individual's or organization's present financial situation and long-term monetary goals, along with strategies to achieve those goals.

SMART Model

Is an approach to determining effective organisational objectives that requires that they be Specific, Measurable, Actionable, Reasonable, and Timetabled.

Objectives

Specific, measurable goals that an individual or organization aims to achieve.