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Compute the Expected value of the perfect information for the given problem.
Given the subsequent cost tree what is the expected outcome?
5
$1,000
0.3
$500
0.2
($300)
$1,500
0.8
$300
Statistics and Probability, Statistics
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Question: I am sending this question second time because I have suspicion about the solution. I am solving it by converting the given percentages into probabilities, and then calculating Expected Freq.=np. Please follow ...
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