Homework Answers
E(small) =0.4*8+0.6*7 =7.4
E(medium) =0.4*14+0.6*5 =8.6
E(small) =0.4*20+0.6*(-9) =2.6
expected value without perfect information =max(7.4,8.6,2.6) =8.6
expected value with perfect information =0.4*20+0.6*7 =12.2
therefore expected value of perfect information =12.2-8.6 =3.6
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