We are all expected to make decisions. There are times when we have to make decisions without prior information. On some occasions, we find ourselves in situations where probabilities are assigned to future occurrences.
In your own words, explain the three types of decision-making environments and what approaches can be used in those environments. Then, provide an example for type of environment.
Reference: Chapter 3 – Decision Analysis.
Post an initial response to the discussion item above AND respond to 2 of your classmate’s posts. Use the assignment rubric to help you craft your post and responses.
Recommended length of initial post: 200-300 words.
Recommended length of responses to classmates’ posts: 100-150 words.