State of Nature
the Following Table Displays the Payoffs (In

Short Answer

State of Nature
The following table displays the payoffs (in thousands of dollars)for five different decision alternatives under three possible states of nature: $$\begin{array}{l}\text { State of Nature }\\\begin{array} { | c | c | c | c | } \hline \text { Alternative } & \begin{array} { c } \text { I } \\\text { Prob. } = \mathbf { 0 . 2 }\end{array} & \begin{array} { c } \text { II } \\\text { Prob. } = \mathbf { 0 . 3 }\end{array} & \begin{array} { c } \text { III } \\\text { Prob. } = \mathbf { 0 . 5 }\end{array} \\\hline \text { A } & \$ 110 & \$ 80 & - \$ 20 \\\text { B } & \$ 90 & \$ 85 & \$ 10 \\\text { C } & \$ 45 & \$ 65 & \$ 45 \\\text { D } & \$ 30 & \$ 60 & \$ 65 \\\text { E } & \$ 10 & \$ 25 & \$ 70 \\\hline\end{array}\end{array}$$
-Calculate the expected value of perfect information (EVPI)in thousands of dollars.
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