A. Expected value is calculated by multiplying each possible outcome by its corresponding probability and adding the products together. Thus, the probability of a given outcome is only one component of expected value.

B. Expected value is not the present value of the alternative actions.

C. Expected value is calculated by multiplying each possible outcome by its corresponding probability and adding them together. In other words, expected value is the weighted average of the probable outcomes, with each outcome's probability serving as that outcome's weight.

D. It is almost impossible for the expected value to actually predict the likely outcome of a proposed action.