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Who chooses whether a trial will be before a judge or a jury?
Payoff Table
A tabular representation of the outcomes for each combination of strategies in decision theory, typically used in strategic decision making and game theory.
States of Nature
Hypothetical conditions that could affect the outcome of a decision or experiment but are beyond the control of the decision-maker.
Decision Alternatives
Possible actions or choices available to decision-makers in a decision-making process.
Opportunity Loss
The loss of potential gain from other alternatives when one alternative is chosen.
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