Which of the Following Characterizes Decision Making Under Uncertainty

question 197

Multiple Choice

Which of the following characterizes decision making under uncertainty?

• A)Decision makers must rely on probabilities in assessing outcomes.
• B)The likelihood of possible future events is unknown.
• C)Relevant parameters have known values.
• D)Certain parameters have probabilistic outcomes.
• E)Lack of knowledge about how risk-averse the decision maker is.