The equally likely decision criteria is also known as

Related MCQs

• If all criteria in the decision making are equal, weighting the criteria ______________.
• When a manger made a decision and he is uncertain about the outcomes His decision is likely to be:
• The process of selecting decision criteria is accomplished by:
• The decision making criteria that should be used to achieve maximum long term pay off is
• If a decision theory problem has 3 decision alternatives and 4 states of nature, the number of payoffs in that problem will be
• For decision making under uncertainty, identify the decision rule that is appropriate for the optimist.
• What decision-making condition must exist for the decision tree to be a valuable tool?
• The criteria of expected monetary value is used for making decisions under
• The maximax criteria is……..
• A plan developed to carry out a course of action that is not likely to be repeated in the future is called: