TABLE 17-5
$$\text { The following payoff table showsprofits associated witha set of } 2 \text { alternatives under } 3 \text { possible events. }$$ $\quad $ $\quad $ $\quad $ $\quad $ $\text {Action }$
$\begin{array} { c c c }
\text { Event } & A & B \
1 & 1000 & 1200 \
2 &500 & 700\
3&300&-200
\end{array}$
Suppose that the probability of Event 1 is 0.2, Event 2 is 0.5, and Event 3 is 0.3.
-Referring to Table 17-5, what is the EVPI for this problem?

Question

TABLE 17-5
 $$\text { The following payoff table showsprofits associated witha set of } 2 \text { alternatives under } 3 \text { possible events. }$$  $\quad $ $\quad $ $\quad $ $\quad $ $\text {Action }$
 $\begin{array} { c c c } 
\text {  Event } & A & B \
1 & 1000 & 1200 \
2 &500 & 700\
3&300&-200
\end{array}$
Suppose that the probability of Event 1 is 0.2, Event 2 is 0.5, and Event 3 is 0.3.
-Referring to Table 17-5, what is the EVPI for this problem?

Quizplus · Accepted Answer

The Answer of TABLE 17-5
 $$\text { The following payoff table showsprofits associated witha set of } 2 \text { alternatives under } 3 \text { possible events. }$$  $\quad $ $\quad $ $\quad $ $\quad $ $\text {Action }$
 $\begin{array} { c c c } 
\text {  Event } & A & B \
1 & 1000 & 1200 \
2 &500 & 700\
3&300&-200
\end{array}$
Suppose that the probability of Event 1 is 0.2, Event 2 is 0.5, and Event 3 is 0.3.
-Referring to Table 17-5, what is the EVPI for this problem?