To calculate expected profit under certainty,you need to have perfect information about which event will occur.

Question

Quizplus · Accepted Answer

To calculate expected profit under certainty, you need to know with absolute certainty which event will occur and the outcomes associated with each event. This requires having perfect information about the future, which is generally not possible. Therefore, you cannot calculate expected profit under certainty in real-world situations.

To Calculate Expected Profit Under Certainty,you Need to Have Perfect