EXPECTED VALUE OF PERFECT INFORMATION Definition

Bookmark and Share

EXPECTED VALUE OF PERFECT INFORMATION (EVPI) is the difference between the expected value with (additional) perfect information and the expected value with current information. The expected value of perfect information is the maximum amount a decision maker should pay for additional information that gives a perfect signal as to the state of nature.

Learn new Accounting Terms

MANNING VARIANCE is the difference between the amount of time that was expected to be worked at a machine-paced workcenter, based on the amount of receipts of the parent part, and the actual amount of labor hours recorded at the workcenter.

CLEARING BANK is a member bank of a national check clearing system.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.