The expected value of perfect information is the:
A. Same as the expected profit under certainty.
B. Sum of the conditional profit loss) for the best event of each act times the probability ofeach event occurring.
C. Difference between the expected profit under certainty and the expected opportunity loss.
D. Difference between the expected profit under certainty and the expected monetary valueof the best act under uncertainty:
Answer:D
The expected value of perfect information is the:
A. Same as the expected profit under certainty. B. Sum of the conditional profit loss) for the best event of each act times the probability ofeach event occurring. C. Difference between the expected profit under certainty and the expected opportunity loss. D. Difference between the expected profit under certainty and the expected monetary valueof the best act under uncertainty: