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

Question

Quizplus · Accepted Answer

In an environment of certainty, the decision maker has complete information and knows with certainty which state of nature will occur. Therefore, the decision can be made with confidence and no risks need to be considered.

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