Examlex
As dictated by current restrictions,what is the maximum amount the level of a 100-year flood can be encroached (raised) as a result of building?
State of Nature
A term used in decision theory and statistics to refer to the actual but unknown condition or outcome of a particular phenomenon.
Decision Tree
A decision tree is a graphical representation used in decision analysis to display choices and their possible outcomes, including chance event outcomes, resource costs, and utility.
Opportunity Loss
The difference in value between the chosen option and the best possible option that was not chosen.
Optimal Alternative
The best or most effective option among a set of alternatives, under given conditions.
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