Which of the following best explains why the best decision alternative is the one with the highest preference probability? It is a result of applying the five Rules of Actional Thought It corresponds to the alternative with the lowest probability of a good outcome. This corresponds to the alternative with the highest probability of getting a good outcome. None of the Above

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16-09-2020
Mathematics

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Which of the following best explains why the best decision alternative is the one with the highest preference probability? It is a result of applying the five Rules of Actional Thought It corresponds to the alternative with the lowest probability of a good outcome. This corresponds to the alternative with the highest probability of getting a good outcome. None of the Above

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Please help as much as you can and also explain how you got the answer

anthougo anthougo · Answer 1 · 2020-09-19T15:28:00+02:00

Answer:

This best explains why the best decision alternative is the one with the highest preference probability:

This corresponds to the alternative with the highest probability of getting a good outcome.

Step-by-step explanation:

In making a decision under probability, it is the decision maker's preference probability that sways the choice. For the decision maker, therefore, the probability of getting a good outcome is always the preferred probability. So, any alternative that yields a good outcome for the decision maker is always chosen. And this usually corresponds to the alternative with the highest preference probability.