Question Details

IS 466 Decision Support Systems


1. The payoff table always has more states of nature than
decision alternatives. 
2. In some cases, the Expected Value of Sample Information can
exceed the Expected Value of Perfect Information. 
3. The Expected Value of Perfect Information is always a value
greater than 0. 
4. “Uncertainty” implies probabilities; “risk” implies ignorance.
5. An aggressive decision maker would prefer the minimax regret
criterion over the maximin criterion. 


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