Part 2. Based on your studies , read the following definitions and choose the right concept that reflects the meaning of each. (6 Marks) Term Definitions Concepts A. Unknown In decision theory, payoffs resulting from each possible combination of alternatives and outcomes are called B. Equally likely C. Conditional A measurable input quantity that is inherent in a problem. values. Scientific approach to decision making. D. Certain E. Parameter The decision making environment is called uncertainty if the probabilities are F. Quantitative approach Several criteria exist for making decisions under conditions of uncertainty. The one in which the amount lost by not picking the best alternative in a given state of nature is called G. Mini-max regret H. Proportionality means that if production of 1 unit of a product uses 3 hours, production of 10 units would use 30 hours. I. Additivity Focus 02 11101 sem