The outcome of an alternative/state of nature combination is a(n)
A) price
B) conditional value
C) expected value
D) conditional probability
E) All of the above are correct.

Question

Quizplus · Accepted Answer

The outcome of an alternative/state of nature combination is referred to as a conditional value, which is the result or payoff associated with a specific decision in the context of a particular state of nature.

The Outcome of an Alternative/state of Nature Combination Is A(n)