The expected value with perfect information is
A) the maximum EMV for a set of alternatives
B) the same as the expected value of perfect information
C) valuable in situations involving risk
D) the average return obtained when the decision maker knows which state of nature is going to occur before the decision is made
E) obtained using conditional probabilities

Question

Quizplus · Accepted Answer

The expected value with perfect information is the average return obtained when the decision maker knows which state of nature is going to occur before the decision is made.

The Expected Value with Perfect Information Is