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pychu [463]
3 years ago
14

A market research survey is available for $10,000. Using a decision tree analysis, it is found that the expected monetary value

with the survey is $65,000. The expected monetary value with no survey is $62,000. What is the expected value of the information from this sample?
Business
1 answer:
svet-max [94.6K]3 years ago
7 0

Answer:

Therefore Expected Value of the information = $65,000+$62,000 - $10,000  = $117,000

Explanation:

If the market research survey is available for $10,000.

Using a decision tree analysis, it has been found that the expected monetary value with the survey is $65,000. The expected monetary value with no survey is $62,000.

<u>Then the expected value of the information from this sample is the expected value of each outcome and deducting the costs associated with the decision</u>

Therefore Expected Value of the information = $65,000+$62,000 - $10,000  = $117,000

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