In a Decision Tree, Each Possible Outcome ________

question 68

Multiple Choice

In a decision tree, each possible outcome ________.

• A)gets assigned a probability value between 0 and 1.0
• B)gets assigned a probability value of 50 percent
• C)gets assigned a probability value between 0 and 50 percent
• D)gets assigned a probability value between 0.5 and 1.0

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Definitions:

Discretion

The freedom or authority to make decisions and judgements, often within a set of rules or guidelines, typically concerning policies or the application of resources.

Fed

Refers to the Federal Reserve, the central banking system of the United States, responsible for monetary policy.

Monetary Policy

Actions by a central bank to influence the economy by adjusting interest rates and the amount of money in circulation.

Time Inconsistency Problem

A situation where a decision-maker's preferences change over time, leading to a conflict between past and present desires.