The Level of Uncertainty in a Decision Can Be Reduced

question 53

Multiple Choice

The level of uncertainty in a decision can be reduced by:

• A) increasing the information available from which to make the decision.
• B) increasing the number of decision makers involved.
• C) giving decision-making authority to consultants.
• D) delaying the decision until a later time.

---

Definitions:

Population Proportion

It is a measure that gives the fraction of individuals in the population having a particular attribute.

Margin Of Error

An estimate of the amount by which an observed sample statistic may differ from the true population parameter, reflecting the confidence level of the statistic.

Population Standard Deviation

A measure that quantifies the amount of variation or dispersion of a set of data values across a whole population.

Sample Size

The number of participants or observations included in a sample, used in statistical analysis to make inferences about a larger population.