Which of the following statements about Decision Analysis is true? Decision Anal

Question

Which of the following statements about Decision Analysis is true?

Decision Analysis does not include the application of Decision Tables

Uncertain events are represented as states of nature

Decision Analysis cannot be used for structuring a decision

Probability of outcomes must be known with absolute certainty

All of the above

Decision Analysis does not include the application of Decision Tables

Uncertain events are represented as states of nature

Decision Analysis cannot be used for structuring a decision

Probability of outcomes must be known with absolute certainty

All of the above

Explanation / Answer

a) A decision table is an excellent tool to use in both testing and requirements management and not decision analysis. Therefore a) is false.

b) Uncertain events are represented as the states of nature and there are probabilities associated with each of this state of nature. This is true.

c) Decision analysis can ofcourse be used to making or structuring a decision. Therefore this statement is false.

d) Probabilities of outcomes may not be sometimes known with certainty. Therefore the given statement is false.

Therefore b) is the correct statement here.

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