Question

Write a shart note on 'value of control​

Answer 1

Answer:

The value of control is a quantitative measure of the value of controlling the outcome of an uncertain variable. Decision analysis provides a means for calculating the value of both perfect and imperfect control. The former value, informally known as the value of wizardry, is an upper bound for the latter.

Answer 2

Answer:

The value of control is a quantitative measure of the value of controlling the outcome of an uncertain variable. Decision analysis provides a means for calculating the value of both perfect and imperfect control.