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Which statement is not true in the problem formulation in the decision analysis process? ...

Which statement is not true in the problem formulation in the decision analysis process?

a. Identify the uncertain future events.
b. Calculate the expected value.
c. Identify the decision alternatives.
math   Statistics-And-Probability   
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Answer #1

We do not need to calculate the expected value at problem formulation stage in decision analysis process. Hence,

Option B is not true and hence the correct option.

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