Uncertainty Analysis Flashcards Quizlet Study with quizlet and memorize flashcards containing terms like errors, uncertainty, uncertainty analysis and more. Decision analysis a framework for making important decisions types of decision problems: 1. uncertainty: no probability information on possible outcomes (states of nature) are available 2. risk: probabilities of outcomes (states of nature) are available 3. certainty: know which outcome (state of nature) will occur; hence select the best alternative states of nature: possible situations that.
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