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ABC Company, the soft-drink vendor, has developed a table of payoffs for three stocking decisions for three dissimilar states of nature:


States of nature (Demand)

Alternatives

Heavy

Medium

Low

Large stock

$2,060

$1,510

$1,200

Average stock

$1,390

$1,430

$1,290

Small stock

$1,560

$1,550

$1,890

Probabilities associated with states of nature are 0.4 for heavy demand, 0.2 for medium demand, and 0.4 for the low demand. What is the expected value with the perfect information? Identify only the amount. e.g. 14000

Project Management, Management Studies

  • Category:- Project Management
  • Reference No.:- M915117

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