Decision Analysis

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Across
  1. 2. _____ Regret Approach choose the decision alternative that minimizes the maximum state of regret that could occur over all possible states of nature
  2. 6. Stares of ____ are The possible outcomes for a chance event
  3. 7. Nodes, Squares are used to depict
Down
  1. 1. Events, Uncertain Future Events
  2. 3. _____ Approach evaluates each decision alternative in terms of the best payoff that can occur
  3. 4. outcome, resulting from a specific combination of a decision alternative and a state of nature
  4. 5. used to represent decisions and chance events