Expected Value Analysis Requires Taking the Difference Between the Actual

question 125

True/False

Expected value analysis requires taking the difference between the actual projected outcome and the historic outcome times its probability and then summing these totals.

---

Definitions:

Total Effort

The full allocation of one's energy and resources towards achieving a task or objective.

Motivation

The intrinsic or extrinsic factors that stimulate people to act or behave in a certain way.

Moralizing

The act of expressing opinions about the rightness or wrongness of actions or behavior, often in a judgmental way.

Prescriptive

Relating to the imposition or application of rules or recommendations.