The study of how changes in the probability assessments for the ...

[dollx]

The study of how changes in the probability assessments for the states of nature or changes in the payoffs affect the recommended decision alternative is known as
 a. uncertainty analysis. b. cost analysis.
  c. sensitivity analysis. d. probability analysis.

Question 2

___________ is the study of the possible payoffs and probabilities associated with a decision alternative or a decision strategy in the face of uncertainty.
 a. Risk analysis
  b. Cost analysis
  c. Certainty analysis
  d. Optimization

[Eunice618]

Answer to Question 1

c
RATIONALE: Sensitivity analysis is the study of how changes in the probability assessments for the states of nature or changes in the payoffs affect the recommended decision alternative.

Answer to Question 2

a
RATIONALE: Risk analysis is the study of the possible payoffs and probabilities associated with a decision alternative or a decision strategy in the face of uncertainty.

[dollx]

YES! Correct, THANKS for helping me on my review

[TheDev123]

Thanks for the timely response, appreciate it