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Using
3.14, find the approximate area of a circle with radius r = 10 cm.
Expected Utility Theory
A normative model of decision making in which the decision maker weighs the personal importance and probabilities of different outcomes in choosing among alternatives in order to maximize overall satisfaction of personal goals.
Prescriptive
Relating to the imposition or enforcement of rules, norms, or recommendations, often in a directive way.
Normative Models
theoretical models that prescribe how people should behave or make decisions, often based on optimal outcomes or rational choice theory.
Decision Making
The cognitive process of selecting a course of action from among multiple alternatives, often involving a risk or uncertainty.
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