The expected value of information that would tell the decision maker exactly which state of nature is going to occur is the _____ information.
A) expected value of sample
B) expected value of perfect
C) revised state-of-nature
D) updated research

Question

Quizplus · Accepted Answer

The expected value of information that would tell the decision maker exactly which state of nature is going to occur is the expected value of perfect information. This is because the information would eliminate all uncertainty and provide the decision maker with complete knowledge of the outcome, leading to the "perfect" decision.

The Expected Value of Information That Would Tell the Decision