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Determine the expected value of perfect information

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Reference no: EM132943072

Determine the expected value of perfect information for a decision with two alternatives. The outcome of Alternative 1 is certain: P(100) = 1.0. Alternative 2 has an uncertainty with two possible outcomes: P(1,000) = 0.2 and P(-150) = 0.8.

Reference no: EM132943072

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