The range of probability for which an alternative has the best expected payoff can be determined by:
A)simulation.
B)sensitivity analysis.
C)priority recognition.
D)analysis of variance.
E)decision analysis.

Question

Quizplus · Accepted Answer

Sensitivity analysis is a technique used to determine how the expected payoff of an alternative changes as the input parameters change. This information can be used to determine the range of probability for which an alternative has the best expected payoff.

The Range of Probability for Which an Alternative Has the Best