EVPI Equals the Expected Regret Associated with the Minimax Decision

question 70

True/False

EVPI equals the expected regret associated with the minimax decision.

---

Definitions:

IASB's Conceptual Framework

A comprehensive set of accounting principles and concepts issued by the International Accounting Standards Board to guide the development of standards.

Financial Reporting

Generating communications that present the financial situation of a corporation to its management team, shareholders, and the government.

General Purpose

An undirected goal, usually implying flexibility and adaptability to a variety of situations or tasks.

Objective

A goal or aim that is sought after; in business, this often refers to specific targets companies aim to achieve.