_________ is a situation in which a decision maker has only incomplete information about outcomes and does not have the ability to reasonably estimate outcomes that are not known.
A)Low risk
B)Uncertainty
C)Risk
D)Certainty

Question

Quizplus · Accepted Answer

Uncertainty is a situation where the decision maker is unaware of the outcomes and cannot realistically predict them due to incomplete information or a lack of experience with similar situations. In contrast, risk implies that the decision maker has some idea of the probability and potential outcomes of their decision, which allows them to make a rational choice. Certainty refers to a situation where the decision maker has all the information required to make an informed decision. Low risk may occur when there are known outcomes, but the probability of success or failure is relatively low.

_________ Is a Situation in Which a Decision Maker Has