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Directions: Read the below passage carefully, consider the options given and answer the question that follows.Von Nuemann and Morgenstern assume a decision framework in which all options are thoroughly considered, each option being independent of the others, with a numerical value derived for the utility of each possible outcome (these outcomes electing, in turn, all possible combinations of choices). The decision is then made to maximise the expected utility. (1) ________, such a model reflects major simplifications of the way decisions are made in the real world. Humans, not able to process information as quickly and effectively as the model assumes, tend not think (2) ________ as easily as the model calls for; they often deal with a particular option without really assessing its alternatives and when they do assess alternatives, they may be extremely nebulous about their criteria of (3) ________.Fill in the blank 3.a)Retrospectb)Speculationc)Introspectiond)Evaluatione)ProliferationCorrect answer is option 'D'. Can you explain this answer? for CAT 2025 is part of CAT preparation. The Question and answers have been prepared according to the CAT exam syllabus. Information about Directions: Read the below passage carefully, consider the options given and answer the question that follows.Von Nuemann and Morgenstern assume a decision framework in which all options are thoroughly considered, each option being independent of the others, with a numerical value derived for the utility of each possible outcome (these outcomes electing, in turn, all possible combinations of choices). The decision is then made to maximise the expected utility. (1) ________, such a model reflects major simplifications of the way decisions are made in the real world. Humans, not able to process information as quickly and effectively as the model assumes, tend not think (2) ________ as easily as the model calls for; they often deal with a particular option without really assessing its alternatives and when they do assess alternatives, they may be extremely nebulous about their criteria of (3) ________.Fill in the blank 3.a)Retrospectb)Speculationc)Introspectiond)Evaluatione)ProliferationCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for CAT 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Directions: Read the below passage carefully, consider the options given and answer the question that follows.Von Nuemann and Morgenstern assume a decision framework in which all options are thoroughly considered, each option being independent of the others, with a numerical value derived for the utility of each possible outcome (these outcomes electing, in turn, all possible combinations of choices). The decision is then made to maximise the expected utility. (1) ________, such a model reflects major simplifications of the way decisions are made in the real world. Humans, not able to process information as quickly and effectively as the model assumes, tend not think (2) ________ as easily as the model calls for; they often deal with a particular option without really assessing its alternatives and when they do assess alternatives, they may be extremely nebulous about their criteria of (3) ________.Fill in the blank 3.a)Retrospectb)Speculationc)Introspectiond)Evaluatione)ProliferationCorrect answer is option 'D'. Can you explain this answer?.

Solutions for Directions: Read the below passage carefully, consider the options given and answer the question that follows.Von Nuemann and Morgenstern assume a decision framework in which all options are thoroughly considered, each option being independent of the others, with a numerical value derived for the utility of each possible outcome (these outcomes electing, in turn, all possible combinations of choices). The decision is then made to maximise the expected utility. (1) ________, such a model reflects major simplifications of the way decisions are made in the real world. Humans, not able to process information as quickly and effectively as the model assumes, tend not think (2) ________ as easily as the model calls for; they often deal with a particular option without really assessing its alternatives and when they do assess alternatives, they may be extremely nebulous about their criteria of (3) ________.Fill in the blank 3.a)Retrospectb)Speculationc)Introspectiond)Evaluatione)ProliferationCorrect answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for CAT. Download more important topics, notes, lectures and mock test series for CAT Exam by signing up for free.

Here you can find the meaning of Directions: Read the below passage carefully, consider the options given and answer the question that follows.Von Nuemann and Morgenstern assume a decision framework in which all options are thoroughly considered, each option being independent of the others, with a numerical value derived for the utility of each possible outcome (these outcomes electing, in turn, all possible combinations of choices). The decision is then made to maximise the expected utility. (1) ________, such a model reflects major simplifications of the way decisions are made in the real world. Humans, not able to process information as quickly and effectively as the model assumes, tend not think (2) ________ as easily as the model calls for; they often deal with a particular option without really assessing its alternatives and when they do assess alternatives, they may be extremely nebulous about their criteria of (3) ________.Fill in the blank 3.a)Retrospectb)Speculationc)Introspectiond)Evaluatione)ProliferationCorrect answer is option 'D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Directions: Read the below passage carefully, consider the options given and answer the question that follows.Von Nuemann and Morgenstern assume a decision framework in which all options are thoroughly considered, each option being independent of the others, with a numerical value derived for the utility of each possible outcome (these outcomes electing, in turn, all possible combinations of choices). The decision is then made to maximise the expected utility. (1) ________, such a model reflects major simplifications of the way decisions are made in the real world. Humans, not able to process information as quickly and effectively as the model assumes, tend not think (2) ________ as easily as the model calls for; they often deal with a particular option without really assessing its alternatives and when they do assess alternatives, they may be extremely nebulous about their criteria of (3) ________.Fill in the blank 3.a)Retrospectb)Speculationc)Introspectiond)Evaluatione)ProliferationCorrect answer is option 'D'. Can you explain this answer?, a detailed solution for Directions: Read the below passage carefully, consider the options given and answer the question that follows.Von Nuemann and Morgenstern assume a decision framework in which all options are thoroughly considered, each option being independent of the others, with a numerical value derived for the utility of each possible outcome (these outcomes electing, in turn, all possible combinations of choices). The decision is then made to maximise the expected utility. (1) ________, such a model reflects major simplifications of the way decisions are made in the real world. Humans, not able to process information as quickly and effectively as the model assumes, tend not think (2) ________ as easily as the model calls for; they often deal with a particular option without really assessing its alternatives and when they do assess alternatives, they may be extremely nebulous about their criteria of (3) ________.Fill in the blank 3.a)Retrospectb)Speculationc)Introspectiond)Evaluatione)ProliferationCorrect answer is option 'D'. Can you explain this answer? has been provided alongside types of Directions: Read the below passage carefully, consider the options given and answer the question that follows.Von Nuemann and Morgenstern assume a decision framework in which all options are thoroughly considered, each option being independent of the others, with a numerical value derived for the utility of each possible outcome (these outcomes electing, in turn, all possible combinations of choices). The decision is then made to maximise the expected utility. (1) ________, such a model reflects major simplifications of the way decisions are made in the real world. Humans, not able to process information as quickly and effectively as the model assumes, tend not think (2) ________ as easily as the model calls for; they often deal with a particular option without really assessing its alternatives and when they do assess alternatives, they may be extremely nebulous about their criteria of (3) ________.Fill in the blank 3.a)Retrospectb)Speculationc)Introspectiond)Evaluatione)ProliferationCorrect answer is option 'D'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Directions: Read the below passage carefully, consider the options given and answer the question that follows.Von Nuemann and Morgenstern assume a decision framework in which all options are thoroughly considered, each option being independent of the others, with a numerical value derived for the utility of each possible outcome (these outcomes electing, in turn, all possible combinations of choices). The decision is then made to maximise the expected utility. (1) ________, such a model reflects major simplifications of the way decisions are made in the real world. Humans, not able to process information as quickly and effectively as the model assumes, tend not think (2) ________ as easily as the model calls for; they often deal with a particular option without really assessing its alternatives and when they do assess alternatives, they may be extremely nebulous about their criteria of (3) ________.Fill in the blank 3.a)Retrospectb)Speculationc)Introspectiond)Evaluatione)ProliferationCorrect answer is option 'D'. Can you explain this answer? tests, examples and also practice CAT tests.