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Which of the following is the 4th step in analyzing problems with decision trees?
Which of the following is the 4th step in analyzing problems with decision trees?
A. Solve the problem by computing the EMV for each state-of-nature node.
B. Structure or draw the decision tree.
C. Assign probabilities to the states of nature.
D. Estimate payoffs for each possible combination of decision alternatives and states of nature.