Melissa Rossi,Product Manager at National Consumers,Inc.(NCI),is evaluating alternatives for introducing a new package for toothpaste.She has identified four alternative markets,and has constructed the following table which shows NCI's rewards (in $1,000,000's)for various levels of acceptance by the markets and their probabilities. The expected value of perfect information is ________.
A)$420,000
B)$570,000
C)$660,000
D)$720,000
E)$890,000

Question

Melissa Rossi,Product Manager at National Consumers,Inc.(NCI),is evaluating alternatives for introducing a new package for toothpaste.She has identified four alternative markets,and has constructed the following table which shows NCI's rewards (in $1,000,000's)for various levels of acceptance by the markets and their probabilities.  The expected value of perfect information is ________.
A)$420,000 
B)$570,000 
C)$660,000 
D)$720,000 
E)$890,000

Quizplus · Accepted Answer

The Answer of Melissa Rossi,Product Manager at National Consumers,Inc.(NCI),is evaluating alternatives for introducing a new package for toothpaste.She has identified four alternative markets,and has constructed the following table which shows NCI's rewards (in $1,000,000's)for various levels of acceptance by the markets and their probabilities.  The expected value of perfect information is ________.
A)$420,000 
B)$570,000 
C)$660,000 
D)$720,000 
E)$890,000