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the nbs television network earns an average of 400 000 from a hit show and loses an 672758

The NBS television network earns an average of $400,000 from a hit show and loses an average of $100,000 on a flop. Of all shows reviewed by the network, 25% turn out to be hits and 75% turn out to be flops. For $40,000, a market research firm will have an audience view a pilot of a prospective show and give its view about whether the show will be a hit or a flop. If a show is actually going to be a hit, there is a 90% chance that the market research firm will predict the show to be a hit. If the show is actually going to be a flop, there is an 80% chance that the market research firm will predict the show to be a flop. Determine how the network can maximize its expected profits. Also find EVSI and EVPI.

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