Examlex
You find a new fossil deposit,containing many species with shells but no soft-bodied species.What is the most logical conclusion?
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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