Mr. De Cat asks the company geologist to assess the probabilities of each possibility. The geologist says this assessment depends on whether or not a dome exists. The geologist says there is a 0.7...

Mr. De Cat asks the company geologist to assess the probabilities of each possibility. The geologist says this assessment depends on whether or not a dome exists. The geologist says there is a 0.7 chance that a dome does exist. He also provides Mr. De Cat with the following information:

a. What is Mr. De Cat's certain equivalent for this drilling site?

b. What is the value of information on the presence of the dome?

c. What is the value of information on the amount of oil present?