Asked by
David Galway
on Oct 31, 2024
Verified
If a decision maker knows for sure which state of nature will occur, he/she is making a decision under certainty.
Decision Under Certainty
A decision-making situation in which all relevant information is known and future outcomes are predictable.
- Master the array of conditions and guidelines applicable in decision-making, highlighting certainty, risk, and uncertainty.
Verified Answer
BP
Learning Objectives
- Master the array of conditions and guidelines applicable in decision-making, highlighting certainty, risk, and uncertainty.
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