A decision-making setting is said to be ________ when the outcome of that decision is not known with certainty,but the possible outcomes associated with that decision,and their probability,are known before a decision is made.
A)risky
B)uncertain
C)typical
D)atypical

Question

Quizplus · Accepted Answer

In a risky decision-making setting, the outcomes may not be known with certainty, but their probabilities are known. This is in contrast to an uncertain setting where the probabilities of outcomes are not known.

A Decision-Making Setting Is Said to Be ________ When the Outcome