About this document
Calculating Expected Value of Perfect Information by dian is a document available to read on EtoBox.
The document discusses the expected value of perfect information and sample information using an example of a Burger Prince restaurant deciding which of three models to use for a new location. It calculates the posterior probabilities and expected monetary values of each model based on different possible states of customer volume. The document demonstrates how to determine the expected value of perfect information and whether a marketing survey providing sample information would be worthwhile.
- Author
- dian
- Language
- EN