________ is a situation in which a decision maker has incomplete information about outcomes and does not have the ability to reasonably estimate outcomes that are not known.
A)Certainty
B)Risk
C)Uncertainty
D)High certainty

Question

Quizplus · Accepted Answer

In uncertainty, a decision-maker lacks knowledge about the outcomes and cannot estimate them reasonably. This is different from risk, where probabilities can be assigned to each potential outcome. Certainty, on the other hand, means the decision-maker has complete information about the outcomes and can accurately predict them. High certainty is not a valid choice as it is not a recognized term in decision-making theory.

________ Is a Situation in Which a Decision Maker Has