A convenient way to represent decisions,chance events,and possible outcomes in choices under risk and uncertainty is known as the:
A)probability distribution.
B)decision table.
C)decision tree.
D)expected outcome tree.
E)risk table.

Question

Quizplus · Accepted Answer

A decision tree is a convenient way to represent decisions, chance events, and possible outcomes in choices under risk and uncertainty. It can help to visualize different options and their potential outcomes, as well as calculate the expected value of each option. Probability distributions can be incorporated into the decision tree as well. A decision table is a simpler and less visual way to represent decisions and outcomes, while an expected outcome tree is not a commonly used term in decision analysis. A risk table may be relevant in some contexts, but is not specific to decision making.

A Convenient Way to Represent Decisions,chance Events,and Possible Outcomes in Choices