The minimum expected opportunity loss is also equal to
A)expected profit under certainty.
B)expected value of perfect information.
C)coefficient of variation.
D)expected value under certainty minus the expected monetary value of the worst alternative.

Question

Quizplus · Accepted Answer

The minimum expected opportunity loss is equal to the expected value of perfect information (EVPI), which represents the maximum amount a decision-maker should be willing to pay for perfect information about the future.

The Minimum Expected Opportunity Loss Is Also Equal to