Which of the following is a requirement to be able to compute expected monetary value?
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Business, 23.10.2019 05:30 LilCookies1
Which of the following is a requirement to be able to compute expected monetary value?
a) the probability of each state of nature is known.
b) each state of nature is equally likely to occur.
c) the probability of each decision alternative is known.
d) each decision alternative needs at least two states of nature.
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