6. A situation in which a decision maker knows all of the possible outcomes of a decision and also knows the probability associated with each outcome is referred to as A. certainty B. risk C. strategy D. uncertainty 7. In the decision tree shown below, how many state of nature nodes are shown? Action 2 Condition 3 Action 1 Condition 1 Action 3 Condition 4 Action 4 Condition 2 A. В. C. 4 D. 6. 8. A pessimistic decision making criterion is sometimes called: maximin criterion maximax criterion A. В. C. equally likely criterion D. decision making under certainty 9. A situation in which a decision maker must choose between strategies that have more than one possible outcome when the probability of each outcome is unknown is referred to as A. diversification B. certainty С. risk D. uncertainty
6. A situation in which a decision maker knows all of the possible outcomes of a decision and also knows the probability associated with each outcome is referred to as A. certainty B. risk C. strategy D. uncertainty 7. In the decision tree shown below, how many state of nature nodes are shown? Action 2 Condition 3 Action 1 Condition 1 Action 3 Condition 4 Action 4 Condition 2 A. В. C. 4 D. 6. 8. A pessimistic decision making criterion is sometimes called: maximin criterion maximax criterion A. В. C. equally likely criterion D. decision making under certainty 9. A situation in which a decision maker must choose between strategies that have more than one possible outcome when the probability of each outcome is unknown is referred to as A. diversification B. certainty С. risk D. uncertainty
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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