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IS 466 Decision Support Systems


IS 466 Decision Support Systems 6. When using the maximax criterion, the optimal decision alternative may be determined by simple inspection of the payoff table. 7. The “principle of insufficient reason” indicates the decision maker’s belief that any state of nature is as likely to occur as any other state. 8. “Expected value” in decision analysis is synonymous with “most likely value.” 9. The optimal decision can change merely by introducing an additional, non-optimal alternative when using the minimax regret criterion. 10. The states of nature in a payoff table should be mutually exclusive and collectively exhaustive. Computer Science Assignment Help, Computer Science Homework help, Computer Science Study Help, Computer Science Course Help


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