Question: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. According to the text explain briefly when decision analysis can be used? According to

1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. According to the text explain briefly when decision analysis can be used? According to the text explain briefly what are decision alternatives? According to the text explain briefly what is the states of nature? According to the text explain briefly what is the difference between optimistic approach and conservative approach? According to the text explain briefly what is the expected value of a decision alternative? According to the text explain briefly what a decision tree is and provide concrete examples entertained in the text? According to the text explain briefly when Sensitivity analysis can be used? According to the text explain briefly what is a decision strategy? According to the text explain briefly what is risk analysis? According to the text explain briefly how Risk Analysis helps the decision maker? Provide your individual reflection, as to how and when decision can be made. And what do you expect from your decision? Use the text as a reference point to

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