STT206 Email: bbcnoun@gmail.com Whatsapp: 08131667008 Stt206 TMA 3 Q1 The optimal expected monetary value decision involves the selection of the _______associated with the minimum expected opportunity loss or the action associated with the maximum expected profit, depending on the objective of the decision maker action Q2 The payoff table is usually displayed in grid form, with the states of nature indicated in the ______ Columns Q3 When the state of nature Si, whether known or unknown has influence on the outcomes of given alternative, we say the decision maker is operating under ______ uncertainty Q4 Decision makers are generally interested in the optimal monetary value _____ Decision Q5 The expected monetary value decision refers to the _____of available action based on either the expected opportunity loss or the expected profit of the action Selection Q6 A decision-making procedure, which employs both the payoff table and prior probabilities associated with the states of nature to arrive at a decision, is referred to as the Expected Monetary value decision ______ Procedure Q7  The states of nature in decision problems are generally denoted by Si. ( i = 1,2,3,…, k), where k is the number of or different states of nature in a given business and economic _____ environment Q8 Index numbers are used to measure the pulse of the _______ economy Q9 Index number is used to study ______and tendencies Trend Q10 Email: bbcnoun@gmail.com Whatsapp: 08131667008