The expected value of perfect information

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Reference no: EM13836430

Exploring a new coal mine costs $100,000 and has a 40 percent chance of finding $500,000 of coal and 60 percent chance of finding $100,000 of coal. The expected value of perfect information is:

a. $0

b. $100,000

c. $150,000

d. $200,000

Reference no: EM13836430

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