Exhibit 14.7 The Following Questions Use the Information Below

Multiple Choice

Exhibit 14.7
The following questions use the information below.
A decision maker is faced with two alternatives. The decision maker has determined that she is indifferent between the two alternatives when p = 0.45.
-A state of nature

A) is observed
B) is under control of a decision maker
C) is known with certainty
D) is estimated using a decision model of choice