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8 Cards in this Set
- Front
- Back
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The text presents which two analytic tools to help with decision making? |
decision tables and decision trees |
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What is a course of action or strategy that may be chosen by a decision maker? |
alternative |
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What is an occurrence or a situation over which the decision maker has little or no control? |
state of nature |
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What decision tree symbol represents a state-of-nature node? |
circle |
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What decision tree symbol represents a decision node? |
square |
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What is an alternative name for a decision table? |
payoff table |
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Which decision-making rule is known as a "pessimistic" decision criterion? |
maximin |
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What is the most commonly used criterion for decision tree analysis? |
EMV |
