If the minimum expected regret is computed, it indicates to a decision maker the expected:
A)value of perfect information.
B)payoff under certainty.
C)monetary value.
D)payoff under risk.
E)risk-seeking.

Question

Quizplus · Accepted Answer

The minimum expected regret is associated with the value of perfect information, as it quantifies the benefit of making decisions with complete information, thereby minimizing potential regrets from not making the optimal choice.

If the Minimum Expected Regret Is Computed, It Indicates to a Decision