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Because costs and benefits are both subjective, a calculation of the value of a decision is always based on what?

User Tdashroy
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Answer:

personal opinion

Step-by-step explanation:

User Mohamed Akram
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Value of information (VOI or VoI) is the amount a decision maker would be willing to pay for information prior to making a decision.
Because costs and benefits are both subjective, a calculation of the value of a decision is always based on personal opinion.

User Dasha Salo
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