The concept of utility can be helpful to the apply decision analysis techniques to of situations which do not lend themselves to expected monetary value analysis.

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Utility is a measure of the satisfaction or happiness that a person derives from a particular outcome. It can be used in decision analysis techniques to evaluate outcomes and rank them based on their level of utility. This can be helpful in situations where monetary values cannot be easily assigned to outcomes, such as when dealing with personal values or social issues. Therefore, the concept of utility can be helpful in applying decision analysis techniques to a wide variety of situations.

The Concept of Utility Can Be Helpful to the Apply