The owner of Tastee Cookies needs to decide whether to lease a small,medium,or large new retail outlet.She estimates that monthly profits will vary with demand for her cookies as follows: 
If she feels there is a 30% chance that demand will be high,what is her expected value of perfect information?
A) $1,600
B) $1,100
C) $1,000
D) $900
E) $500
Correct Answer:
Verified
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