Expected monetary value (EMV)is
A)the average or expected monetary outcome of a decision if it can be repeated a large number of times.
B)the average or expected value of the decision, if you know what would happen ahead of time.
C)the average or expected value of information if it were completely accurate.
D)the amount you would lose by not picking the best alternative.

Question

Quizplus · Accepted Answer

Expected monetary value (EMV) is the average or expected monetary outcome of a decision if it can be repeated a large number of times. This means that by choosing the option with the highest EMV, you can expect to make the most money over a long-term period.

Expected Monetary Value (EMV)is