When decision makers lack complete information on action alternatives and their consequences but have some knowledge of the probabilities associated with the various outcomes,they are operating in an environment of __________.
A)Certainty.
B)Risk.
C)Uncertainty.
D)Subjectivity.
E)Equifinality.

Question

Quizplus · Accepted Answer

When decision makers have some knowledge about the probabilities associated with the outcomes, they are operating in a risky environment. In this situation, decision makers do not have complete information but can estimate the likelihood of different outcomes based on available data.

When Decision Makers Lack Complete Information on Action Alternatives and Their