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:

Professional Ethics

Moral principles that govern a person's behavior or the conducting of an activity in a professional setting.

Ethical Issues

Challenges or dilemmas that involve making decisions between what is right and wrong, often encountered in professional fields.

Morals

Pertaining to distinction of “right” and “wrong.”

Standards Of Conduct

Ethical and professional guidelines that govern behavior in a specific context or profession.