The sequence of possible managerial decisions and their expected outcome under each set of circumstances can be represented and analyzed by using
A) the minimax regret criterion.
B) a decision tree.
C) a payoff matrix.
D) simulation.

Question

Quizplus · Accepted Answer

A decision tree is a graphical representation of possible solutions to a decision based on various conditions. It's used to display an algorithm that only contains conditional control statements.

The Sequence of Possible Managerial Decisions and Their Expected Outcome