Expected Monetary Value (EMV)is

question 39

Multiple Choice

Expected monetary value (EMV) is

• A)the average or expected value of the decision if you knew what would happen ahead of time.
• B)the weighted average of possible monetary values,weighted by their probabilities.
• C)the average or expected value of the information if it was completely accurate.
• D)the amount that you would lose by not picking the best alternative.
• E)a decision criterion that places an equal amount on all states of nature.

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Definitions:

Federal Act

Legislation enacted by the national government that applies across the entire country.

Substance Abuse

The harmful or hazardous use of psychoactive substances, including alcohol and illicit drugs.

Child Abuse

The physical, sexual, emotional mistreatment, or neglect of a child.

Neglect

Failing to provide adequate care, supervision, or necessary resources for a dependent, resulting in harm or risk of harm.