An environment for making decisions in which information is incomplete, yet one can still reasonably estimate probabilities for the outcomes of various options is called a(n):
A) risk environment.
B) certain environment.
C) uncertain environment.
D) programmed environment.

Question

Quizplus · Accepted Answer

In a risk environment, although information may be incomplete, it is still possible to estimate probabilities for the outcomes of different options, allowing for decision-making under risk.

An Environment for Making Decisions in Which Information Is Incomplete