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SOLVED: In decision tree, squares are used to depict.a. branches .b. payoffs.c. chance nodes.d. decision nodes.Which statement is not true in theproblem formulation in the decision analysis process?a. Identify the uncertain future events.b. Calculate the expected value.c. Identify the decision alternatives.d. Create verbal statement of the problem.When a decision maker is faced with several alternatives and anuncertain set of future events, s/he uses to develop anoptimal strategy.a. predictive

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