Problem
1. Explain in your own words the role that data can play in the development of models of uncertainty in decision analysis.
2. Why might a decision maker be reluctant to make subjective probability judgments when historical data are available? In what sense does the use of data still involve subjective judgments?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.