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Managerial Decision Making Expected Value

Conduct an Internet and literature search on the topic of the expected-value decision rule. Discuss your findings. Review how the expected-value decision rule played a part in a recent decision you made.

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The response addresses the queries posted in 386 words with references.
//The topic in this paper is the expected-value decision rule. It is a concept emerged about a century ago, which is based on probability. Here, different actions and their outcomes will be estimated, and expected value will be calculated identifying the payoff values.//

Expected-Value Decision Rule

Expected value or EV is the fundamental principle of decision analysis. It is a 17th century concept developed to understand gambling odds. The idea emerged at that time when people especially, gamblers faced a number of actions that were not expected. Each of these actions had at ...

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The response addresses the queries posted in 386 words with references.

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