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You need to make an important decision, but you can first purchase some information that will help you make the decision. You want to determine

You need to make an important decision, but you can first purchase some information that will help you make the decision. You want to determine the expected value of the information, i.e., EVI. Which of the following is always true?

a. EVI will certainly be less than the cost the provider of the information charges you.

b. EVI will certainly be more than the cost the provider of the information charges you.

c. EVI will depend on the cost the provider of the information charges you.

d. None of these choices are always true.

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