When making a decision under conditions of __________,lack of information or knowledge makes the outcome of each alternative unpredictable,so you cannot determine probabilities.
A) certainty
B) risk
C) uncertainty
D) classification

Question

Quizplus · Accepted Answer

Uncertainty refers to situations where there is a lack of information or knowledge, and therefore the outcome of each alternative is unpredictable. As a result of this unpredictability, it is not possible to determine probabilities, which makes decision-making much more difficult. In contrast, certainty refers to situations where the outcome of each alternative is known with complete confidence, while risk refers to situations where the outcome of each alternative can be estimated with some degree of certainty. Finally, classification is not related to decision-making under conditions of uncertainty, risk or certainty.

When Making a Decision Under Conditions of __________,Lack of Information