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### boardman_im_ch07[1]

Course: ECON 1111, Spring 2010
School: Memorial University
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Word Count: 1820

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7: CHAPTER DEALING WITH UNCERTAINTY: EXPECTED VALUE, SENSITIVITY ANALYSIS, AND THE VALUE OF INFORMATION Purpose: Develop the concepts of expected value, sensitivity analysis, and the value of information. EXPECTED VALUE ANALYSIS Expected value analysis consists of modeling uncertainty as contingencies with specific probabilities of occurrence. It begins with the specification of a set of contingencies that are...

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Memorial University - ECON - 1111
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