In the context of managerial decision making, when one can estimate the likelihood of various consequences but still does not know with certainty what will happen, he or she is facing
A) irresolution.
B) maximization.
C) risk.
D) optimization.
E) framing effects.

Question

Quizplus · Accepted Answer

When a decision maker can estimate the likelihood of different outcomes but does not know for certain what will happen, he or she is facing risk. This is because there are multiple potential outcomes, and the decision maker must weigh the probability of each outcome against its potential benefits and drawbacks.

In the Context of Managerial Decision Making, When One Can