Question: What is the expected monetary value ( EMV ) ? The average of all possible payoffs for that alternative with their equal probabilities of the

What is the expected monetary value (EMV)?
The average of all possible payoffs for that alternative with their equal probabilities of the different outcomes
The difference of all possible payoffs for that alternative with their probabilities of the different outcomes
The weighted average of all possible payoffs for that alternative with their probabilities of the different outcomes
The sum of all possible payoffs for that alternative with their probabilities of the different outcomes

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