Question

Tom is faced with a situation in which he must make a decision. Which of the following best describes the order of the steps of the decision making process. Tom should use to come to a decision?

A. Identify the outcomes, identify the courses of action, determine the pay-off function and then choose from the alternatives.
B. Identify the course of action, determine the pay-off function, identify the outcomes and then choose from the alternatives.
C. Determine the pay-off function, identify the course of action, identify the outcomes and then choose from the alternatives.
D. None of the above.

Answer 1

B is the correct option

Step-by-step explanation:

First tom must identify the course of action of the decision, determine the pay-off function. then, identify the outcomes and then choose from the alternatives.