Asked by raquel galvan on Jun 09, 2024
Verified
All entries of any opportunity loss table are negative values since they represent losses.
Opportunity Loss Table
A table used in decision analysis that quantifies the difference between the payoff from the best action and all other actions for each state of nature.
- Understand the meaning behind negative numbers in opportunity loss charts.
Verified Answer
HM
Hallie MoffittJun 16, 2024
Final Answer :
False
Explanation :
Opportunity loss tables can contain zero values, representing scenarios where the optimal decision was made, thus no loss occurred.
Learning Objectives
- Understand the meaning behind negative numbers in opportunity loss charts.
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