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The marketing director of a company is deciding which of three products to launch into a new market.
The following table of possible outcomes has been prepared.
What is the value of perfect information about market conditions?
Give your answer as a whole number to the nearest $ million.
Suggested Answer: A
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12 comments · newest first
SA
Salena
12 months ago
Just did the math, $12 million checks out!
TA
Tawna
12 months ago
I think it could be less, maybe around $10 million?
GA
Garry
1 year ago
Wait, are we sure about that number? Seems high.
KA
Karl
1 year ago
Totally agree, that makes sense!
AY
Ayesha
1 year ago
The value of perfect information is $12 million.
RO
Rosalyn
1 year ago
I think the value of perfect information is the difference between the best expected outcome and the best outcome with certainty. I hope I remember the right steps!
AL
Allene
1 year ago
I feel a bit lost on how to approach this. I think I need to compare the expected outcomes with and without perfect information, but I’m not confident in my calculations.
EL
Ellen
1 year ago
This question seems similar to one we practiced about decision trees. I think I need to find the expected values first before determining the value of perfect information.
FA
Fabiola
1 year ago
I remember we discussed the concept of perfect information in class, but I'm not entirely sure how to calculate its value in this context.
JE
Jenelle
1 year ago
I'm a bit unsure about the other options. Onboarding the SD-WAN branches and providing clock synchronization don't sound like core Versa Controller functions to me, but I'll double-check my notes just to be sure.
VI
Vincenza
1 year ago
Hmm, this seems like a tricky one. I'll need to carefully read through the options and think about the best approach to ensure the technicians have the right access.
IS
Isidra
1 year ago
Ugh, I hate these tricky admin console questions. Guess I'll just have to give it my best shot.