Under Conditions of Uncertainty,the Decision Maker Has ____________ of the Probability

question 46

Multiple Choice

Under conditions of uncertainty,the decision maker has ____________ of the probability of the outcome of _____ alternative(s) .

• A) absolutely no knowledge; each
• B) absolutely no knowledge; most
• C) partial knowledge; each
• D) partial knowledge; of a portion of the

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Definitions:

Typical

Representing the characteristics or qualities of a particular group, category, or class; characteristic.

Frequency Judgment

The process of estimating the rate at which an event occurs or the likelihood of its occurrence.

Availability

The extent to which a resource or service can be used or obtained.

Representativeness Heuristic

A cognitive shortcut used in decision making and judgments, where the likelihood of an object or event is assessed based on how closely it matches the typical case or stereotype.