In computing an expected value (EV), the weights are _____.
A) decision alternative probabilities
B) in pounds or some unit of weight
C) in dollars or some unit of currency
D) the state-of-nature probabilities

Question

Quizplus · Accepted Answer

The weights in computing an expected value (EV) are the state-of-nature probabilities, which represent the likelihood of each possible outcome occurring.

In Computing an Expected Value (EV), the Weights Are _____