A sequence of decisions and chance outcomes that provide the optimal solution to a decision problem is called
A) a payoff table.
B) the expected value approach.
C) a decision strategy.
D) an optimal plan.

Question

A sequence of decisions and chance outcomes that provide the optimal solution to a decision problem is called​
A) ​a payoff table.
B) ​the expected value approach.
C) ​a decision strategy.
D) an optimal plan.

Quizplus · Accepted Answer

A decision strategy outlines a sequence of decisions and chance outcomes that lead to the optimal solution of a decision problem, guiding the decision-maker through various scenarios and their possible outcomes.

A Sequence of Decisions and Chance Outcomes That Provide the Optimal