Which of the following is true regarding decision making environments?
A)Most business decisions are made in an environment of uncertainty.
B)Most business decisions are made in an environment of certainty.
C)Certainty means that probabilities of each possible outcome are known.
D)Uncertainty means that probabilities of each possible outcome are known.

Question

Quizplus · Accepted Answer

Most business decisions are made in an environment of uncertainty, where the probabilities of potential outcomes are not known. Only in rare cases, decision-makers have complete knowledge and a high degree of certainty about the outcomes of their decisions.

Which of the Following Is True Regarding Decision Making Environments