When making a decision in an environment of ________________,the decision maker knows which of the states of nature will actually occur.
A)Risk
B)Utility
C)Certainty
D)Uncertainty

Question

Quizplus · Accepted Answer

Certainty is a situation where the decision maker knows with complete assurance which state of nature will occur. In this case, the decision maker can make an informed choice with minimal risk or uncertainty.

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