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Expected Monetary Value (EMV) is a decision-making technique used to compare different alternatives under conditions of uncertainty. It calculates the average expected financial outcome of each possible action by multiplying every possible outcome by its probability and then adding the results. In programming and AI, expected monetary value can be used as a simple decision-making model where an intelligent system evaluates available actions and selects the one with the better expected result. In the given problem, there are two alternatives: Action C, which is a certain option, and Action G, which is a gamble. Action C provides a guaranteed amount of Rs.50, while Action G provides either Rs.100 or Rs.0 depending on the outcome. The objective is to determine which action should be selected based on expected monetary value. For Action C, the amount received is Rs.50 with certainty. Since the probability of receiving Rs.50 is 100%, or 1.0, its expected monetary value can be calculated as: EMV(Action C) = Probability × Payoff EMV(Action C) = 1.0 × Rs.50 EMV(Action C) = Rs.50 Therefore, the expected monetary value of Action C is Rs.50. For Action G, there are two possible outcomes. The first outcome is receiving Rs.100, which has an 80% probability. _______ ____ __________ ____ _____ _________ ___ __________ _______ _____.
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