In a decision-making scenario, if the decision maker knows which state of nature will occur, the scenario is called decision-making under certainty.

Name: In a decision-making scenario, if the decision maker knows which state of nature will occur, the scenario is called decision-making under certainty.
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Question

Quizplus · Accepted Answer

When the decision maker knows which state of nature will occur, there is no uncertainty involved, and therefore the scenario is considered decision-making under certainty.

In a Decision-Making Scenario, If the Decision Maker Knows Which