Given the following table, calculate the expected value of perfect information.
$\begin{array}{c|ccc|c}\hline &\text { Low } & \text { Medium } & \text { High } & \text { Expected } \
&\text { Demand } & \text { Demand } & \text { Demand } & \text { Value } \
\hline \text { Small } \mathrm{d}_{1} & \$ 400 & \$ 400 & \$ 400 & \$ 400 \
\text { Medium } \mathrm{d}_{2} & \$ 100 & \$ 600 & \$ 600 & \$ 500 \
\text { Large } \mathrm{d}_{3} & \$ 300 & \$ 300 & \$ 900 & \$ 450 \
\hline \text { Probability } & 0.20 & 0.35 & 0.45 & \
\hline
\end{array}$

Question

Given the following table, calculate the expected value of perfect information.
 $\begin{array}{c|ccc|c}\hline &\text { Low } & \text { Medium } & \text { High } & \text { Expected } \
&\text { Demand } & \text { Demand } & \text { Demand } & \text { Value } \
\hline \text { Small } \mathrm{d}_{1} & \$ 400 & \$ 400 & \$ 400 & \$ 400 \
\text { Medium } \mathrm{d}_{2} & \$ 100 & \$ 600 & \$ 600 & \$ 500 \
\text { Large } \mathrm{d}_{3} & \$ 300 & \$ 300 & \$ 900 & \$ 450 \
\hline \text { Probability } & 0.20 & 0.35 & 0.45 & \
\hline
\end{array}$

Quizplus · Accepted Answer

The Answer of Given the following table, calculate the expected value of perfect information.
 $\begin{array}{c|ccc|c}\hline &\text { Low } & \text { Medium } & \text { High } & \text { Expected } \
&\text { Demand } & \text { Demand } & \text { Demand } & \text { Value } \
\hline \text { Small } \mathrm{d}_{1} & \$ 400 & \$ 400 & \$ 400 & \$ 400 \
\text { Medium } \mathrm{d}_{2} & \$ 100 & \$ 600 & \$ 600 & \$ 500 \
\text { Large } \mathrm{d}_{3} & \$ 300 & \$ 300 & \$ 900 & \$ 450 \
\hline \text { Probability } & 0.20 & 0.35 & 0.45 & \
\hline
\end{array}$

Given the Following Table, Calculate the Expected Value of Perfect