What does "certainty equivalent" mean in decision analysis?
A) The probability of a certain event
B) The value of a guaranteed outcome equivalent to a risky one
C) The difference between expected values
D) The range of possible outcomes
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What does "certainty equivalent" mean in decision analysis?
A) The probability of a certain event
B) The value of a guaranteed outcome equivalent to a risky one
C) The difference between expected values
D) The range of possible outcomes