In the following profit table, di represents decision variables and Si represents states of nature.
a. If management assigns probabilities as follows: S1 = 0.15; S2 = 0.25; S3 = 0.40; and S4 = 0.20, determine the expected value for d2.
b. Determine the expected value for d3.
c. Assuming the largest expected value for a decision variable is 24.00; determine the value of perfect information.
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b...
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