Minimum Expected Regret ( EVPI = Expected Regret of the best solution)
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The expected value of the number of Heads in 1 toss of a fair coin is 0.5. So the expected number of Heads in 10000 tosses of a fair coin is ... 5000!
No. The expected value is the mean!
The expected value is the average of a probability distribution. It is the value that can be expected to occur on the average, in the long run.
yes
All we can deduce from that information is that k is a positive perfect square. Is that really the whole question? What?