< 40 minutes remaining Question 2 Explain: EVR is cost-benefit analysis with uncertainty Because cost-benefit analysis i

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40 Minutes Remaining Question 2 Explain Evr Is Cost Benefit Analysis With Uncertainty Because Cost Benefit Analysis I 1 (116.64 KiB) Viewed 13 times

< 40 minutes remaining Question 2 Explain: EVR is cost-benefit analysis with uncertainty Because cost-benefit analysis is a Blank 1 making theory based on the Blank 2 principle that if the benefit of the outcome of an action is greater than the cost then you ought to choose that action, applying cost-benefit analysis requires knowing what the outcome of the action will be. Blank 1 When there is a range of possible but Blank 3 outcomes you can use Expectation Value Reasoning (EVR) which still considers the benefits of each outcome but weights them by their Blank 4, replacing benefit with expectation value. So EVR is cost-benefit analysis with Blank 5 because it uses the normative principle that if the expectation value of the outcome of an action (instead of the benefit) is greater than the cost then you ought to choose that action, Words: action, analysis, benefit, benefits, choose, cost, costs, decision, expectation, greater, knowing, making, normative, ought, outcome, outcomes, possible, principle, probability, range, reasoning, uncertain, uncertainty, uses, value, weights Blank 2 Blank 3 Blank 4 Blank 5 Add your answer Add your answer Add your answer 4 OF 4 QUESTIONS REMAINING Add your answer 1.25 Points Add your answer