risk and uncertainty

This topic has 1 reply, 2 voices, and was last updated 8 years ago by John Moffat.

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August 15, 2017 at 10:39 am #401926
adarsh1997
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Could you explain why the following is not true?

-Each possible outcome from a decision is given an expected value.

Thanks.
August 15, 2017 at 3:01 pm #401948
John Moffat
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Because it does not make any sense!!

The expected value is the average of the possible outcomes for each course of action.
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