Determining the Probability Distribution Which Results in the Best Alternative

question 3

Multiple Choice

Determining the probability distribution which results in the best alternative is called:

• A)Risk profile
• B)Expected value of perfect information
• C)Folding back
• D)Expected probability value

---

Definitions:

Will

A legal document by which a person expresses their wishes as to how their property is to be distributed at death, and names one or more persons to manage the estate.

Trust

A fiduciary relationship in which one party holds property or assets for the benefit of another based on an agreement.

Codicil

An addition or amendment made to a will, which may add to, modify, or revoke portions of the document.

Trusts

Are fiduciary relationships in which one party, known as a trustee, holds property for the benefit of another party, the beneficiary.