A tabular presentation that shows the outcome for each decision alternative under the various possible states of nature is called a/an:
A)payoff table
B)feasible region
C)Laplace table
D)decision tree
E)payback period matrix

Question

Quizplus · Accepted Answer

A payoff table shows the outcome for each decision alternative under the various possible states of nature, allowing decision makers to compare and select the alternative with the best expected value or highest payoff. Therefore, the best choice(s) can be determined by analyzing the payoffs in the table.

A Tabular Presentation That Shows the Outcome for Each Decision