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Match the Term with the Correct Definition

question 21

Multiple Choice

Match the term with the correct definition.
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Definitions:

State of Nature Node

A decision analysis tool used to represent possible future events or outcomes in decision making under uncertainty.

State of Nature

A term used in decision theory and statistics to describe possible outcomes in a situation which are not under the control of the decision-maker.

Maximax Criterion

A decision-making strategy that seeks to maximize the maximum possible payoff, focusing on the most optimistic scenario.

Decision Under Certainty

A decision-making situation in which all relevant information is known and future outcomes are predictable.

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