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Which of the Following Statements Relating to Risk and Uncertainty

Question 1

Multiple Choice

Which of the following statements relating to risk and uncertainty is correct?


A) Risk exists when we do not know all of the possible outcomes.
B) Risk exists when we know all of the possible outcomes but not their probabilities.
C) Uncertainty exists when we know all of the possible outcomes but not their probabilities.
D) Uncertainty exists when we know all of the possible outcomes and their probabilities.

Correct Answer:

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