Customer response time is: A. the time taken for value to be placed on a company's products by customers. B. the time taken for development of a new process for producing products and delivering them to customers. C. the time taken for given inputs to be converted into an output. D. the time taken for development of products that have superior attributes to existing products. E. the time taken for a good to be delivered or a service to be performed.

Aplant manager is considering buying additional stamping machines to accommodate increasing demand. the alternatives are to buy 1 machine, 2 machines, or 3 machines. the profits realized under each alternative are a function of whether their bid for a recent defense contract is accepted or not. the payoff table below illustrates the profits realized (in $000's) based on the different scenarios faced by the manager. alternative bid accepted bid rejected buy 1 machine $10 $5 buy 2 machines $30 $4 buy 3 machines $40 $2 refer to the information above. assume that based on historical bids with the defense contractor, the plant manager believes that there is a 65% chance that the bid will be accepted and a 35% chance that the bid will be rejected. what is the expected value under perfect information (evpi)?