Explain the concepts of expected value of sample information and expected value of perfect information.

Students who want to do a topic on Christianity should consult with the professor or TA first
July 31, 2019
The essay should use at least one primary source and two scholarly secondary sources, and deal with a NON-EUROPEAN society prior to 1500.
July 31, 2019

1. Provide examples of when expected value decision making is appropriate and when it is not. 2. Explain the concepts of expected value of sample information and expected value of perfect information. 3. What are the implications of the “flaw of averages”? 4. Discuss the exponential utility function and its characteristics. 5. What is a risk profile and how can it be used in conjunction with the solution of a decision tree? 6. Explain the concept of utility theory and how utilities can be assessed. 7. What is a decision tree? How is Bayes’s rule useful in implementing a decision tree?


 

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Explain the concepts of expected value of sample information and expected value of perfect information. was first posted on July 31, 2019 at 7:33 pm.
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