Which of the following is not a part of decision tree problem specification?
A) A list of alternatives
B) A list of possible states of nature
C) Expected value of perfect information
D) Payoffs associated with alternative/state of nature combination

Question

Quizplus · Accepted Answer

Expected value of perfect information is not a part of the initial problem specification for a decision tree but rather an outcome of the analysis, used to assess the value of having perfect information about the states of nature before making a decision.

Which of the Following Is Not a Part of Decision