_______ is the procedure of choice when we have no information about the probability for each state of nature in the field of decision analysis.
A)Decision making under certainty
B)Decision making under risk
C)Decision making under probability
D)Decision making under uncertainty

Question

Quizplus · Accepted Answer

Decision making under uncertainty is the procedure used when there is no information about the probabilities of the different states of nature. This approach is applied in situations where the decision-maker cannot assign specific probabilities to the outcomes of various alternatives.

_______ Is the Procedure of Choice When We Have No