Andrew Thomas, a sandwich vendor at Hard Rock Cafe's annual Rocdest,...
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Accounting
Andrew Thomas, a sandwich vendor at Hard Rock Cafe's annual Rocdest, created a table of conditonal values for the various alternatives (stocking decision) and states of nature (Size of erowd): The probabilities assoclated with the states of nature are 0.3 for a big demand, 0.5 for an average demand, and 0.2 for a small demand. a) Determine the alternative that provides Andrew the grestest expected monetary value (EVV). b) Compute the expected value of perfect information (IVPD)
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