In a decisional situation where the decision maker can calculate the probability of success for each alternative, conditions are uncertain.

Name: In a decisional situation where the decision maker can calculate the probability of success for each alternative, conditions are uncertain.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

When the decision maker can calculate the probability of success for each alternative, conditions are considered to be under risk, not uncertainty. Under uncertainty, probabilities of outcomes cannot be determined.

In a Decisional Situation Where the Decision Maker Can Calculate