Which of the following statements are true?
A) Sensitivity analysis is a process of seeing how optimal decision and EMV vary when one or more inputs vary.
B) Multistage decision problem is one where decisions and observations of uncertain outcomes alternate.
C) Contingency plan is a strategy in a multistage decision problem that specifies which decision to make for each possible outcome.
D) All of these choices are true.
E) None of these choices is true.

Question

Quizplus · Accepted Answer

A) Sensitivity analysis is indeed a process of examining how optimal decisions and expected monetary value (EMV) change as one or more inputs or assumptions change. 
B) A multistage decision problem is defined as one where decisions and uncertain outcomes are typically observed alternately. 
C) A contingency plan is a strategy which specifies the course of action to take in the event of any unexpected future events or circumstances. 
Therefore, all three statements are true.

Which of the Following Statements Are True