Essay
A manager needs to hire short-term employees to meet production demands.The manager would like to hire one of three possible short-term workers.Ten hours are demanded with 50% probability,20 hours are demanded with 30% probability,and 30 hours are demanded with 20% probability.The table below represents the alternatives and possible states of nature. 
a)Which alternative will minimize the expected monetary value?
b)What is the expected value of perfect information?
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a)Worker 2 - EMV = $...View Answer
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