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

Question

Quizplus · Accepted Answer

In an uncertain decision making setting, the outcomes and probabilities associated with each decision are not known beforehand, making it difficult for decision makers to assess the risks and choose the best course of action. This is in contrast to a risky decision making setting, where the possible outcomes and probabilities are known, and decision makers can use that information to calculate the expected value and make informed decisions. The terms "strategic" and "typical" do not directly relate to the uncertainty or riskiness of a decision making setting.

A Decision Making Setting Is Said to Be ________ When