Expected Monetary Value (EMV)is

Multiple Choice

Expected monetary value (EMV) is

A) the average or expected monetary outcome of a decision if it can be repeated a large number of times.
B) the average or expected value of the decision,if you know what would happen ahead of time.
C) the average or expected value of information if it were completely accurate.
D) the amount you would lose by not picking the best alternative.
E) a decision criterion that places an equal weight on all states of nature.