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Author Question: What would be the mean square due to regression (MSR) in this case? a. 15.48 b. 10 c. 5.9 d. ... (Read 30 times)

cagreen833

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on: Jun 24, 2018
What would be the mean square due to regression (MSR) in this case?
 a. 15.48
  b. 10
  c. 5.9
  d. 3.87

Question 2

Why should we bother determining the expected value of perfect information when such information is practically never available?


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ju

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Reply #1 on: Jun 24, 2018
Answer to Question 1

D

Answer to Question 2

Rarely will we ever obtain perfect information, yet we can usually purchase better information for a price. The expected value of perfect information (EVPI) tells us the upper limit for what perfect information would be worth. Certainly we would not want to pay more than the EVPI for imperfect information.


cagreen833

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Reply 2 on: Jun 24, 2018
Great answer, keep it coming :)

recede

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Reply 3 on: Yesterday
Excellent

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