The difference between the expected value of an optimal strategy based on sample information and the "best" expected value without any sample information is called the _____ information.
A) optima
B) expected value of sample
C) expected value of perfect
D) efficiency of

Question

Quizplus · Accepted Answer

The expected value of sample information (EVSI) is the difference between the expected value of an optimal strategy based on sample information and the best expected value without any sample information.

The Difference Between the Expected Value of an Optimal Strategy