The equally likely decision criteria is also known as

Related MCQs

• 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……..
• The maximise criteria is ...........................
• Decision variables are
• Which of the following is not a part of decision tree problem specification?
• In a decision theory problem under complete uncertainty, which one of the following approaches will not be possible?