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Decision-making deals with situations of (i) certainty, (ii) risk and (iii) uncertainty.

 Decision-making deals with situations of (i) certainty, (ii) risk and (iii) uncertainty. Which of the following is a characteristic of decision-making under uncertainty? 

[A]The decision-maker has complete information about available alternatives, and has a good idea of the probability of particular outcomes for each alternative

[B]The decision-maker has complete information about available alternatives, but has no idea of the probability of particular outcomes for each alternative

[C]The decision-maker has incomplete information about available alternatives, but has a good idea of the probability of particular outcomes for each alternative

[D]Future environment is unpredictable and everything is in a state of flux 

Mar 06 2018 View more View Less

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