________ is a situation in which a decision maker cannot make reasonable probability estimates.
A) Necessity
B) Risk
C) Uncertainty
D) Certainty

Question

Quizplus · Accepted Answer

Uncertainty refers to a situation in which the decision maker does not have enough information to make reasonable probability estimates for possible outcomes. In contrast, in risky situations, the decision maker has access to information that allows them to estimate the probabilities of different outcomes. In situations of certainty, the decision maker knows the outcomes with 100% certainty, while in situations of necessity, there is only one possible outcome.

________ Is a Situation in Which a Decision Maker Cannot