A tabular presentation that shows the outcome for each decision alternative under the various states of nature is called a:
A)payback period matrix.
B)decision matrix.
C)decision tree.
D)payoff table.

Question

Quizplus · Accepted Answer

A payoff table lists the outcomes of each decision alternative for each possible state of nature. Based on the payoff table, the decision alternative with the highest expected payoff can be selected as the best choice.

A Tabular Presentation That Shows the Outcome for Each Decision