Chapter 12Decision AnalysisIntroduction to Management Science8th EditionbyBernard W.Taylor III1Chapter 12-Decision AnalysisComponents of Decision MakingDecision Making without ProbabilitiesDecision Making with ProbabilitiesDecision Analysis with Additional InformationUtilityChapter Topics2Chapter 12-Decision AnalysisTable 12.1Payoff TableA state of nature is an actual event that may occur in the future.A payoff table is a means of organizing a decision situation,presenting the payoffs from diffe
