When making a decision under conditions of __________,you do not know the outcome of each alternative in advance,but can assign probabilities to each outcome.
A) certainty
B) risk
C) uncertainty
D) classification

Question

Quizplus · Accepted Answer

When making a decision under conditions of risk, the decision maker does not know the outcome of each alternative in advance but can assign probabilities to each outcome. This means that the decision maker has some information, but not complete information, about the possible outcomes of each alternative. Therefore, the best choice is B (risk).

When Making a Decision Under Conditions of __________,You Do Not