Expected Values: Expected values refer to the predicted values or outcomes of a random variable or a decision under uncertain conditions. It represents the average value that can be expected to occur based on the probabilities of different outcomes.
Sensitivity Analysis: Sensitivity analysis is a technique used to understand the impact of changes in input variables or parameters on the output or results of a model or decision-making process. It helps assess the sensitivity or vulnerability of the model or decision to variations in different factors.
Value of Information: The value of information represents the worth or benefit gained by acquiring additional information or data in the decision-making process. It helps assess the potential impact of new information on reducing uncertainty, improving decisions, or increasing the expected value of outcomes.