2- You are considering placing a bet on the NCAA playoff game between Indiana an

2- You are considering placing a bet on the NCAA playoff game between Indiana and Purdue. Without any further information you believe that each team has an equal chance to win. If you win the bet you will win $10000. If you lose the bet you will lose $11000. Before betting you may pay an insider $1000 for his inside prediction on the game. 60% of the time the insider will predict that Indiana will win and 40% of the time Purdue. When the insider says Indiana will win Indiana has 70% chance of winning and when the insider says Purdue will win Indiana has only 20% of chance of winning. Determine how you can maximize your total expected profit. What is EVSI? EVPI?