The Expected Value of Sample Information (EVSI)can Be Used to

question 34

Multiple Choice

The expected value of sample information (EVSI) can be used to

• A)establish a maximum amount to spend on additional information.
• B)calculate conditional probabilities.
• C)establish risk avoidance.
• D)provide points on a utility curve.

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Definitions:

Theory

An organized system of assumptions and principles that purports to explain a specified set of phenomena and their interrelationships.

Informed Consent

The doctrine that anyone who participates in human research must do so voluntarily and must know enough about the study to make an intelligent decision about whether to take part.

APA Code

The ethical guidelines set by the American Psychological Association for psychologists.

Human Welfare

The general health, happiness, and safety of a person or population, often used as a measure of the effectiveness of social policies.