Draw the appropriate decision tree and calculate the evpi

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Reference no: EM131524426

Question: Draw the influence diagram that corresponds to the decision tree for Exercise. How would this influence diagram be changed in order to answer parts a, b, and c in Exercise?

Exercise: For the decision tree in Figure, assume Chance Events E and F are independent.

a. Draw the appropriate decision tree and calculate the EVPI for Chance Event E only.

b. Draw the appropriate decision tree and calculate the EVPI for Chance Event F only.

c. Draw the appropriate decision tree and calculate the EVPI for both Chance Events E and F: that is, perfect information for both E and F is available before a decision is made

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