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What is the evpi

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Reference no: EM13230515

A payoff table is given as
Decision s1 s2 s3
d1 250 750 500
d2 300 -250 1200
d3 500 500 600

If the probabilities of d1, d2, and d3 are .2, .5 and .3, respectively, then what choice should be made under expected value?

What is the EVPI?

 

Reference no: EM13230515

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