Expected monetary value $($EMV$)$ is:

Group of answer choices

the weighted average of possible monetary values, weighted by their probabilities

Analytic Hierarchy Process $($AHP$)$

the average or expected value of the decision if you knew what would happen ahead of time

the average or expected value of the information if it was completely accurate

the amount that you would lose by not picking the best alternative

a decision criterion that places an equal amount on all states of nature