A tabular representation of the payoffs for a decision problem is a
A)decision tree
B)payoff table
C)matrix
D)sequential matrix

Question

Quizplus · Accepted Answer

A payoff table is a table that shows the potential payoffs for different decision alternatives based on various possible outcomes. Therefore, it is the best choice for representing payoffs in a decision problem. The other options are either not applicable to representing payoffs (decision tree) or too specific and not commonly used (matrix, sequential matrix).

A Tabular Representation of the Payoffs for a Decision Problem