In a Decision Tree,a Circle Node Represents A(n)______

question 89

Multiple Choice

In a decision tree,a circle node represents a(n) ______.

• A)independent event
• B)dependent event
• C)predictable event
• D)chance event

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Definitions:

Bliss Point

A term in psychology and economics indicating the optimal level of consumption where any further increase would lead to dissatisfaction.

Good Y

A symbolic representation often used in economics to denote a particular good or commodity in theoretical models and analyses.

Perfect Substitutes

Goods that can be used in place of each other with no loss of utility or preference by consumers.

Coke and Pepsi

Refers to a classic example of duopoly in economics, representing competition between two dominant firms in a market.