In terms of decision theory, an occurrence or situation over which the decision maker has no control is called a(n)
A) decision under uncertainty.
B) decision tree.
C) state of nature.
D) alternative.
E) probable state.

Question

Quizplus · Accepted Answer

A state of nature is an occurrence or situation over which the decision maker has no control. A decision under uncertainty refers to a situation where the decision maker is unsure about the likelihood of different outcomes. A decision tree is a graphical representation of the possible outcomes of a decision. An alternative is a possible option or course of action. A probable state is not a recognized term in decision theory.

In Terms of Decision Theory, an Occurrence or Situation Over