The ________ is the difference between the expected payoff that would have been realized had the best alternative action been selected if we knew which state of nature would occur and the expected payoff under risk.
A) expected monetary value
B) expected value of perfect information
C) expected value of sample information
D) expected net gain of sampling

Question

Quizplus · Accepted Answer

The expected value of perfect information is the difference between the expected payoff that would have been realized had the best alternative action been selected if we knew which state of nature would occur and the expected payoff under risk.

The ________ Is the Difference Between the Expected Payoff That