A Set of Potential Future Conditions That Will Have an Effect

question 28

True/False

A set of potential future conditions that will have an effect on the results of a decision is called the states of nature.

---

Definitions:

Dominant Strategy

A strategy in game theory that is the best for a player, regardless of what strategies other players follow.

Wealth

The abundance of valuable resources or material possessions one owns or has control over.

Contribute

To give or supply in common with others; giving assistance or support.

Benefit

The advantage or positive outcome gained from an action, investment, or decision.