Decisions are made when there are not only multiple states of nature, but they are also unpredictable and the decision maker cannot even make an educated guess about the chances, or probabilities, of their coming. This statement relates to which of the following scenarios?
A. decisions under certainty
B. decisions under uncertainty
C. decisions under state of nature
D. decisions under risk
B. decisions under uncertainty
You might also like to view...
Discuss the implications behind the statement that "the customer is always right" in light of the fact that a company must at times deny a customer's request
A verification of a company's books and records pursuant to federal securities laws, state laws, and stock exchange rules that must be performed by an independent certified public accountant (CPA) is known as a(n) ________
A) probate B) ademption C) audit D) deposition
Accounting starts with economic activities that accountants review and evaluate using critical thinking and judgment to create useful information that helps individuals make good decisions
Indicate whether the statement is true or false
Matt Walsh, a golf pro from Hawaii, was a video operator for the New England Patriots from 1999-2002 . Walsh says that he taped the Patriots' opponents' signals, information that he says was then used by the Patriots when they next met that team. If you know the signals, then you know what defense has planned. Offense is then a tad easier. Some quotes emerged from the situation: From Patriots'
coach, Bill Belichick, "I misinterpreted the rules.". From Jacksonville Coach Jack Del Rio on the videotaping, "I think all teams do that. That's been going on forever.". From Matt Walsh, "I had always been a big Patriots fan. I wasn't going to question what they wanted me to do.". From Pennsylvania Senator Arlen Specter, "If you can cheat in the NFL, you can cheat in college, you can cheat in high school, you can cheat on your grade-school math test. There's no limit as to what you can do. I think they owe the public a lot more candor and a lot more credibility.". What rationalization is the Jacksonville coach applying? a. "Everybody does it." b. "That's the way it has always been done." c. "If we don't do it. . ." d. All of the above