_____________ are possible outcomes for chance events that affect the consequences associated with a decision alternative.
A)Payoffs
B)Forecasts
C)Decision trees
D)States of nature

Question

Quizplus · Accepted Answer

States of nature are possible outcomes for chance events that affect the consequences associated with a decision alternative. Payoffs are the outcomes associated with a decision alternative and are dependent on the states of nature. Forecasts are predictions about future events, and decision trees are visual representations of decision-making scenarios.

_____________ Are Possible Outcomes for Chance Events That Affect the Consequences