Which of the following is NOT one of the elements in the decision-making process?
A)consequences
B)states of nature
C)payoffs
D)cost of decision

Question

Quizplus · Accepted Answer

The decision-making process typically includes elements such as consequences, states of nature, and payoffs. The "cost of decision" is not commonly listed as a separate element in the decision-making process; instead, it can be considered a part of the consequences or payoffs.

Which of the Following Is NOT One of the Elements