When making a decision in an environment of ________________,the decision maker knows which of the states of nature will actually occur.
A)certainty
B)uncertainty
C)risk
D)optimism
E)pessimism

Question

Quizplus · Accepted Answer

In an environment of certainty, the decision maker knows for sure which state of nature will occur. Therefore, the decision maker can make a decision based on complete information and without any uncertainty or risk.

When Making a Decision in an Environment of ________________,The Decision