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Business Statistics, 3rd Edition
book

Business Statistics, 3rd Edition

by Naval Bajpai
April 2024
Intermediate to advanced content levelIntermediate to advanced
921 pages
37h 16m
English
Pearson India
Content preview from Business Statistics, 3rd Edition
Chapter 19
828
It has been discussed that the expected value of perfect information (EVPI) = Expected payoff
with perfect information (EPPI) – Maximum expected payoff (EP). In Table 19.22, the maximum
expected payoff value is 236. For obtaining the expected value of perfect information (EVPI), we
have to compute the expected payoff with perfect information (EPPI).
As discussed, the expected payoff with perfect information (EPPI) can be obtained by multi-
plying the maximum payoffs for each event and the corresponding probabilities and adding these
values as shown in Table 19.23.
TABLE 19.23
Computation of expected payoffs with perfect information ...
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Publisher Resources

ISBN: 9789390168996