The minimum expected opportunity loss (EOL)is also equal to
A)expected value of perfect information.
B)expected profit under certainty.
C)expected value under certainty minus the expected monetary value of the worst alternative.
D)coefficient of variation.

Question

Quizplus · Accepted Answer

The minimum expected opportunity loss (EOL) is equal to the expected value of perfect information (EVPI), which represents the maximum amount a decision-maker would be willing to pay for perfect information.

The Minimum Expected Opportunity Loss (EOL)is Also Equal to