You are considering opening a designer shoe store at The Summit. Available space allows you...
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You are considering opening a designer shoe store at The Summit. Available space allows you the possibility to build a large store, a smaller store, or no store at all. Here is the table: States of Nature Alternatives Good Economy Fair Economy Poor Economy Large Shop $90,000 $40,000 -$40,000 Small Shop $65,000 $28,000 -$25,000 Do Nothing 0 0 0 Probabilities 40% 30% 30% What is the Expected Value of Perfect Information (EVPI)?
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