    VALUE OF PERFECT INFORMATION                                                
                                                                                
IN THE SCENARIO TO THIS PROGRAM THERE ARE SEVERAL                               
POSSIBLE STATES OF NATURE, ONE OF WHICH IS THE TRUE STATE.                      
WE DO NOT KNOW WHAT THE TRUE STATE OF NATURE(S OF N) IS BUT                     
WE KNOW THE PROBABILITY OF OCCURRENCE OF EACH S OF N.                           
IN ADDITION THERE ARE SEVERAL ALTERNATIVE ACTIONS WE MAY TAKE                   
EACH OF WHICH HAS A CERTAIN EXPECTED VALUE(OR AVERAGE RETURN).                  
EXPECTATION THEORY SAYS TO CHOOSE THE ACTION WITH THE HIGHEST                   
EXPECTED VALUE. IF WE KNEW WHAT THE TRUE STATE OF NATURE WAS                    
THEN WE WOULD KNOW WHAT ACTION TO TAKE. THE EXPECTED VALUE OF                   
PERFECT INFORMATION IS THE EXPECTED VALUE OF DECISIONS WITH                     
KNOWLEDGE OF THE S OF N MINUS THE MAXIMUM EXPECTED VALUE OF                     
ACTIONS WITHOUT THIS KNOWLEDGE.                                                 
                                                                                
PRESS ENTER TO CONTINUE?                                                        
IN THIS PROGRAM THERE ARE UP TO 25 S OF N'S AND 8 POSSIBLE                      
ACTIONS. THE MAXIMUM EXPECTED VALUE OF THESE ACTIONS IS                         
COMPUTED. THEN THE EXPECTED VALUE WITH PERFECT INFORMATION                      
ABOUT THE S OF N IS COMPUTED. THEIR DIFFERENCE IS THE EVPI.                     
                                                                                
PRESS ENTER TO BEGIN?                                                           
ENTER NUMBER OF POSSIBLE STATES OF NATURE? 2                                    
                                                                                
ENTER PROBABILITY OF S OF N 1 ? 111                                             
ENTER PROBABILITY OF S OF N 2 ? 222                                             
                                                                                
PROBABILITIES DO NOT SUM TO 1.                                                  
ENTER 1 TO STANDARDIZE,0 TO BEGIN OVER? 1                                       
                                                                                
ENTER NUMBER OF POSSIBLE DECISIONS(<=8)? 2                                      
                                                                                
DECISION  1                                                                     
    PAYOFF WHEN S OF N IS 1 ? 123                                               
    PAYOFF WHEN S OF N IS 2 ? 456                                               
                                                                                
DECISION  2                                                                     
    PAYOFF WHEN S OF N IS 1 ? 789                                               
    PAYOFF WHEN S OF N IS 2 ? 395                                               
COMPUTING                                                                       
    DECISION          EXPECTED VALUE                                            
       1                    345.00                                              
       2                    526.33                                              
                                                                                
MAXIMUM EXPECTED VALUE =  526.333                                               
                                                                                
EVWPI                  =  567                                                   
EXPECTED VALUE OF PERFECT INFORMATION =  40.6667                                
                                                                                
