HomeworkLib
Question

the uncontrollable future events that can effect the outcome of a decision are known as a.the...

the uncontrollable future events that can effect the outcome of a decision are known as
a.the node
b.decision outcome
c.alternatives
d. states of nature
e. payoff
business   Operations-Management   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

D. states of nature. the uncontrollable future events that can effect the outcome of a decision are known as states of nature.

0 0
Add a comment
Know the answer?
Add Answer to:
the uncontrollable future events that can effect the outcome of a decision are known as a.the...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • 1) What is a tabular presentation that shows the outcome for each decision alternative under the...

    1) What is a tabular presentation that shows the outcome for each decision alternative under the various possible states of nature called A) isoquant table B) payback period matrix C) payoff table D) feasible region E) decision tree   2) Doing nothing would yield how much profit if favorable market conditions prevail according to the following profit decision table? Alternative Do Nothing Favorable marketUnfavorable Market S20,000 $10,000 A) S5,000 B) $20,000 C)-$10,000 D) SO E) $10,000   3) The expected...

  • Select the answers for questions 1-11, from the following list and write it on the answer...

    Select the answers for questions 1-11, from the following list and write it on the answer sheet; A) State of nature B) Decision C) Alternatives D) Decision table E) Maximin F) Equally likely G) Decision tree H) Node I) Risk J) Favorable market K) Expected monetary value (EMV) L) probability M) Expected value of perfect information (EVPI) N) Pruned O) Decision table P) Maximax 1) A(n) is an occurrence or situation over which the decision maker has little or no...

  • Question 2 A decision maker faced with four decision alternatives and four states of nature develops...

    Question 2 A decision maker faced with four decision alternatives and four states of nature develops the following profit payoff table. States of Nature Decision alternative S_1 S_2 S_3 S_4 d_1 14 9 10 5 d_2 11 10 8 7 d_3 9 10 10 11 d_4 8 10 11 13 (a) State and use the average payoff strategy to choose the best decision. (3 Marks) (b) State and use the aggresive strategy to choose the best decision. (3 Marks) (c)...

  • 1.Given is a decision payoff table. Future Demand Alternatives Low Moderate High Small Facility 53 31...

    1.Given is a decision payoff table. Future Demand Alternatives Low Moderate High Small Facility 53 31 22 Medium Facility 29 42 32 Large Facility -5 30 53    a) The best decision under uncertainty using MAXIMAX is to select  facility    b) The best decision under uncertainty using MAXIMIN is to select  facility    c) The best decision under uncertainty using LAPLACE/EQUALITY LIKELY is to select  facility d) If the probabilities for Future Demand when it is Low = 0.35, Moderate = 0.30,...

  • Liabilities for which exact terms are not precisely known and cannot be determined until future events...

    Liabilities for which exact terms are not precisely known and cannot be determined until future events occur are: Select one: a. non-determinable liabilities b. determinable liabilities c. judicable liabilities d. deductive liabilities

  • 2. Assume you are faced with the following decision alternatives and two states of nature. The pr...

    2. Assume you are faced with the following decision alternatives and two states of nature. The profit payoff table is shown below States of Nature Prob (S D1 D2 D3 S1 0.60 100 50 40 S2 0.40 20 50 80 Decision Alternatives a) Do you think undertaking a market research study, with a cost of 25, would be justified in this case? b) What should the probabilities of states 1 and 2 be that options D1 and D3 will have...

  • -A __________ is a tool for organizing (or structuring) a decision, which takes into account different...

    -A __________ is a tool for organizing (or structuring) a decision, which takes into account different __________ which might result under different __________.             A         payoff table; payoffs; states of nature             B          decision table; profits; costs             C          payoff table; profits; times             D         decision tree; payoffs; probabilities -When using a payoff table to help make a decision, an optimistic decision-maker who wants to maximize payoffs while ignoring potential losses should follow a ____________ decision rule.             A         maximax...

  • Problem 13-14 (Algorithmic) The followng profit payoff table shows profit for a decision analysis problem vwith...

    Problem 13-14 (Algorithmic) The followng profit payoff table shows profit for a decision analysis problem vwith two decision alternatives and three states of nature: State of Nature Decision Alternative SS2 53 di 250 100 100 200 100 150 The probabilities for the states of nature are PO)-0.45. Prs)·О.25 and Prn)-03. a. What is the optimal decision strategy if perfect information was available? 51 : 53 i b. What is the expected value for the decision strategy developed in part (a)?...

  • . Verizon LTE 5:02 PM 94% Problem 1 The following is a payoff table giving profits...

    . Verizon LTE 5:02 PM 94% Problem 1 The following is a payoff table giving profits for various situations States of Nature Do Nothing What decision would a pessimist make? What decision would an optimist make! What decision would be made based on the realism criterion, where the coefficient of realism is 0.707 d. What decision would be made based on the equally likely criterion? e. What decision would be made based on the minimax regret criterion? Suppose now that...

  • Organizational, cultural, and control variables are considered the ________ used by decision makers to effect change...

    Organizational, cultural, and control variables are considered the ________ used by decision makers to effect change in their organization. Group of answer choices a IS b managerial levers c organization objectives d collaboration tools e events

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT