Probabilities on the Branches of a Chance Node May Be

question 26

Multiple Choice

Probabilities on the branches of a chance node may be ____ events that have occurred earlier in the decision tree.

• A) marginal due to 
• B) conditional on 
• C) averaged with 
• D) increased by

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Definitions:

Consumption

The use of goods and services by households or individuals for personal or collective needs and satisfaction.

Tax Reduction

A decrease in the amount of taxes imposed by a government.

Price

The price anticipated, required, or paid in exchange for a particular item.

Quantity

The amount or number of a material or product available or produced.