Managers in biotechnology know that new drugs have a 10 percent chance of passing advanced clinical trials.This is an example of:
A) risk.
B) uncertainty.
C) bounded rationality.
D) incomplete information.
E) satisficing.

Question

Quizplus · Accepted Answer

Risk is present when managers know the possible outcomes of a particular course of action and can assign probabilities to them.

Managers in Biotechnology Know That New Drugs Have a 10