Busıness Decısıon Models Deneme Sınavı Sorusu #1400779
In the decision making process under risk, a probability value must be determined for the chance of realization of all states of nature in the strategy table. So, what must the sum of all probabilities of states of nature be equal to ?
0 |
1 |
-1 |
10 |
100 |
As known, the probability values change from 0 to 1, where 0 means the event occurrence probability is low and 1 means this probability is high. The process of determining probabilities for states of nature is very important. In the decision making process under risk, a probability value must be determined for the chance of realization of all states of nature in the strategy table and the sum of all probabilities of states of nature must be equal to 1. After these possibilities are added to the strategy table, the decision maker should determine which approach will be used to select the best course of action. The correct answer is B.
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