The Difference Between the Expected Value of an Optimal Strategy

question 27

Multiple Choice

The difference between the expected value of an optimal strategy based on sample information and the "best" expected value without any sample information is called the

• A)optimal information
• B)expected value of sample information
• C)expected value of perfect information
• D)efficiency of information

---

Definitions:

365-Day Year

A convention used in interest calculations assuming a full year consists of 365 days.

Total Amount

The complete sum or aggregate of quantities, such as the final amount due for payment or the sum total of assets.

Simple Interest

Interest calculated only on the initial amount of money deposited or loaned, not on any interest accrued over time.

Ordinary Interest

Interest calculated based on a 360-day year, often used in banking for loans and savings.