Expected Monetary Value (EMV)is

question 22

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