In a Decision Tree, Which of the Following Is True

question 70

Multiple Choice

In a decision tree, which of the following is true?

• A)The probabilities of all of the outcomes must be equal.
• B)The sum of the probabilities of all of the outcomes must equal 1.0.
• C)No outcome can have a probability that is less to 1.0.
• D)The sum of the probabilities of all of the outcomes must be greater than 1.0.

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Definitions:

Oligopoly

Market structure in which relatively few sellers compete and high start-up costs form barriers to keep out new competitors.

Planned Economy

Economic system in which government controls determine business ownership, profits, and resource allocation to accomplish government goals rather than those set by individual firms.

Mixed Market Economy

features both private and public enterprise, blending elements of capitalist and socialist economic systems.

Private Enterprise System

Economic system that rewards firms for their ability to identify and serve the needs and demands of customers.