A payoff table is needed to:
A) control for possible future events.
B) inform the decision maker of the choices available.
C) compare each combination of decision alternative and state of nature.
D) control for possible future events and inform the decision maker of the choices available.

Question

Quizplus · Accepted Answer

A payoff table is primarily used to compare each combination of decision alternative and state of nature, allowing decision-makers to evaluate the outcomes of different decisions under various scenarios.

A Payoff Table Is Needed To