Risk Occurs When

question 4

Multiple Choice

Risk occurs when

• A)there is a known probability of random variance in the outcome of an action
• B)there is imperfect information about the outcome of an action
• C)we are uncertain about a given probability
• D)there are known knowns, known unknowns, and unknown unknowns

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Definitions:

Motives

Internal driving forces that compel individuals to act or behave in certain ways to fulfill their needs or achieve goals.

Scientific Attitude

A mindset characterized by skepticism and the systematic search for empirical evidence when forming conclusions.

Open-minded Humility

The quality of being receptive and humble towards new information, perspectives, and evidence.

Recognize Errors

the ability to identify and acknowledge mistakes or inaccuracies in one's own work or reasoning.