The outcomes of future events that cannot be controlled by the decision maker are called
A) decision outcomes.
B) states of nature.
C) prior events.
D) posterior events.

Question

Quizplus · Accepted Answer

States of nature refer to the future events that are outside the decision maker's control and whose outcomes determine the success or failure of a decision. The other options, such as decision outcomes, prior events, and posterior events, are either too broad or too specific to be the correct answer.

The Outcomes of Future Events That Cannot Be Controlled by the Decision