Question

An uncertain future event affecting the consequence associated with a decision is known as a?

Answer 1

An uncertain future event affecting the consequence associated with a decision is known as a chance event.

Because it result obtained when a decision alternative is chosen and a chance event occurs. A measure of the consequence is often called a payoff. states of nature. the possible outcomes for chance events that affect the payoff associated with a decision alternative.

Event is a collection of outcomes of a trial of a random experiment.

consequence is Something that logically or naturally follows from an action or condition.

outcomes is something that happens as a result of an activity or process result.

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