Lingerie Store
The following table displays the payoffs (in thousands of dollars)for five different decision alternatives under three possible states of nature for a new Lingerie store: The prior probabilities of the states of nature are: P(s 1 )= 0.2,P(s 2 )= 0.3,and P(s 3 )= 0.5.
-{Lingerie Store Narrative} Calculate the expected payoff with perfect information.

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Lingerie Store
 The following table displays the payoffs (in thousands of dollars)for five different decision alternatives under three possible states of nature for a new Lingerie store:  The prior probabilities of the states of nature are: P(s 1 )= 0.2,P(s 2 )= 0.3,and P(s 3 )= 0.5. ​ ​
-{Lingerie Store Narrative} Calculate the expected payoff with perfect information.

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The Answer of Lingerie Store
 The following table displays the payoffs (in thousands of dollars)for five different decision alternatives under three possible states of nature for a new Lingerie store:  The prior probabilities of the states of nature are: P(s 1 )= 0.2,P(s 2 )= 0.3,and P(s 3 )= 0.5. ​ ​
-{Lingerie Store Narrative} Calculate the expected payoff with perfect information.

Lingerie Store the Following Table Displays the Payoffs (In Thousands of Thousands