A tabular presentation of the expected gain from the various options open to a decision maker is called
A)a payoff table
B)a decision tree
C)the expected opportunity loss
D)the expected value of perfect information

Question

Quizplus · Accepted Answer

A payoff table presents the expected gains from each decision option, allowing the decision maker to compare and choose the best option based on their preferences and risk tolerance. Decisions trees, expected opportunity loss, and expected value of perfect information are related decision-making tools but do not provide the same level of clear comparison as a payoff table.

A Tabular Presentation of the Expected Gain from the Various