Show work please The following payoff table provides profits based on various po

Question

Show work please

The following payoff table provides profits based on various possible decision alternatives and various levels of demand at Robert Klassan's print shop: The probability of low demand is 0.40, whereas the probability of high demand is 0.60. The alternative that provides Robert the greatest expected monetary value (EMV) is The EMV for this decision is $ (enter your answer as a whole number). The expected value with perfect information (EVwPI) = $ (enter your answer as a whole number). The expected value of perfect information (EVPI) for Robert = $ (enter your answer as a whole number).

Explanation / Answer

the return from alternative 1= 0.4*10,000+ 0.6*30,000= 4000+18000= $22,000

alternative 2= 0.4*6000+ 0.6*40000= 2400+24000= $26,400

alternavie 3= 0.4* (-1500) + 0.6*52000= 31200- 600= $30,600

a) alternative 3 provides highest monitory value

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