Use the payoff table below to answer the questions that follow.
Payoffs represent profits, in dollars, and the probabilities of the
states of nature are given in the table.
s1 s2 s3
d1 2800 2450 -1150
d2 2950 2250 -1100
d3 3100 2100 -800
d4 3050 2150 -950
Probability 0.4 0.1 0.5
a) What is the expected value of the optimal decision? $
b) What is the expected value with perfect information (EVwithPI)? $
c) What is the expected value of perfect information (EVPI)? $