________ is a decision-making tool used in risk situations - situations in which decision makers are not completely sure of the outcome of an implemented alternative but where some estimate of the likelihood of an event can be calculated.
A)Probability theory
B)Bandwagon effect
C)Loss aversion
D)Heuristics
E)Bounded rationality

Question

Quizplus · Accepted Answer

Probability theory is used to make decisions in situations where the outcomes are uncertain but can be estimated with some degree of likelihood, making it a valuable tool for assessing and managing risks.

________ Is a Decision-Making Tool Used in Risk Situations -