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Andrew Thomas, a sandwich vendor at Hard Rock Cafe’s annual Rockfest, created a table of conditional values for the various alternatives (stocking decision) and states of nature (size of crowd): ?. Alternatives Large Stock Average Stock Small Stock States of Nature (demand) Big Average Small $24.000 $14,000 – $2,000 $ 16,000 $10,000 $5.500 $9,000 $7,500 $4.000 The probabilities associated with the states of nature are 0.20 for a big demand, 0.50 for an average demand, and 0.30 for a small demand. a) The alternative that provides Andrew Thomas the greatest expected monetary value (EMV) is The EMV of this decision is $(enter your answer as a whole number). b) The expected value of perfect information (EVPI) for Andrew Thomas = $ (enter your answer as a whole number).
 
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