I EVPI = Expected Value Under Conditions of Certainty-Optimal Decision

question 89

Multiple Choice

i. EVPI = Expected value under conditions of certainty-Optimal decision under conditions of
Uncertainty.
ii. Three regret strategies that are often used are Maximin, Maximax, and Minimax.
iii. Rankings of the decision alternatives are frequently not highly sensitive to changes in the applied
Probabilities within a plausible range.

• A) (i), (ii), and (iii) are all correct statements.
• B) (i) is a correct statement but not (ii) or (iii).
• C) (i) and (iii) are correct statements but not (ii).
• D) (ii) and (iii) are correct statements but not (i).
• E) (i), (ii), and (iii) are all false statements.