When using the bayes decision rule the expected value for a, Ask an Expert

Management Studies

When using the Bayes' decision rule, the expected value for a given alternative is:

the amount the decision maker will receive if that alternative is chosen.

the amount the decision maker is most likely to receive if that alternative is chosen.

the average amount the decision maker would receive in the long run.

the amount by which the decision maker will regret choosing that alternative.

None of the above

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M91535561

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