Exhibit 14.7 The Following Questions Use the Information Below

question 94

Multiple Choice

Exhibit 14.7
The following questions use the information below.
A decision maker is faced with two alternatives. The decision maker has determined that she is indifferent between the two alternatives when p = 0.45.
-Which are characteristics of decision-making under uncertainty?

• A) the probability of possible future events is unknown
• B) decision-makers must rely on probabilities in evaluating outcomes
• C) all process parameters have known values
• D) some process parameters have known values

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