Explain in general why EVSI is the same, regardless of the actual cost of the information. For

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Explain in general why EVSI is the same, regardless of the actual cost of the information. For example, in the Acme problem EVSI is the same regardless of whether the actual cost of the test market is $100,000, $200,000, or any other value. Then explain how EVSI, together with the actual cost of the information, leads to the decision about whether to purchase the information.

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Data Analysis and Decision Making

ISBN: 978-0538476126

4th edition

Authors: Christian Albright, Wayne Winston, Christopher Zappe

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