3.33 Briefly describe decision making under certainty.

3.34 Briefly describe decision making under risk.

3.35 Briefly describe decision making under uncertainty.

3.36 List the six steps in decision making.

3.37 Describe the structure of a payoff table.

3.38 Briefly describe decision tree analysis.

3.39 Briefly describe EVSI.

3.40 Describe the utility curve of a risk seeker.

3.41 Describe the utility curve of a risk avoider.

3.42 List the five major decision criteria used when making decisions under uncertainty.

(1) Is the Markov chain whose transition matrix whose transition matrix is 0 regular? (Yes or No) yes (2) Is the Markov chain whose transition matrix whose transition matrix is 0 0.4 0.6 0 1 0 0.4 0.6 0 regular? (Yes or No) yes (3) is the Markov chain whose transition matrix whose transition matrix is regular? (Yes or No) no (4) Is the Markov chain whose transition matrix whose transition matrix is 0 1 0 0.6 0.4 0 regular? (Yes or No) yes (5) Is the Markov chain whose transition matrix whose transition matrix is regular? (res or No) naFor each of the following transition matrices, determine whether the Markov chain with that transition matrix is regular: (1) Is the Markov chain whose transition matrix whose transition matrix is 0 0.5 0.5 0.5 0 0.5 0 0 regular? (Yes or No) (2) Is the Markov chain whose transition matrix whose transition matrix is 0 1 0 0.3 0 0.7 0 1 0 regular? (Yes or No) (3) Is the Markov chain whose transition matrix whose transition matrix is 0 1 0 0.6 0 0.4 1 0 0 regular? (Yes or No) (4) Is the Markov chain whose transition matrix whose transition matrix is 1 0 0.4 regular? (Yes or No) (5) Is the Markov chain whose transition matrix whose transition matrix is 0 1 0 0.3 0.2 0.5 0 1 0Quantity of Quarks 2 4 6 8 10 12 14 16 18 20 Quantity of Quirks 11. Refer to the graph above to answer this question. If this society chooses to produce 10 quirks, what is the maximum quantity of quarks it can produce? A) 500 quarks. B) 800 quarks. C) No quark quarks. D) 600 quarks