What information condition lies between certainty and uncertainty in making decisions?
A)Risk
B)Rationalization
C)Problem solving
D)Decision rules
E)Guesswork

Question

Quizplus · Accepted Answer

The information condition that lies between certainty and uncertainty is known as risk. Risk is a situation where a decision maker is aware of various possible outcomes, but has insufficient information and knowledge to accurately predict the probability of each outcome occurring. In such situations, decision makers often resort to taking calculated risks by using available information and their judgment to select the best course of action.

What Information Condition Lies Between Certainty and Uncertainty in Making