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Decision Table
A tabular method for representing and analyzing rules and decision-making scenarios, showing inputs and their associated outcomes.
State of Nature
A future condition or occurrence in decision theory that is beyond the control of decision makers and can affect the outcomes of decisions.
Expected Value
A statistical concept that calculates the average outcome when the future includes scenarios that may or may not happen.
Perfect Information
A condition in decision-making scenarios where all actors have access to all relevant information to make a decision.
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