Question

The decision situations wherein the decision-maker chooses to consider several possible outcomes and the probabilities of their occurrence can be stated are called _____________.

Answer 1

Answer:

The correct answer to the following question will be "Decisions under risk".

Explanation:

• When those risks are known or could be inferred, the option of an appropriate strategy based on such probabilities is called under-risk decision-making.
• Risk means a degree or a level of uncertainty as well as an inability to effectively predict the effects or effects of an event.

Therefore, it's the right answer.