Question: 3 . ) this question is worth 1 point ( LO 2 ) What is the difference between risk and uncertainty in decision theory? Risk

3.) this question is worth 1 point
(LO2) What is the difference between risk and uncertainty in decision theory?
Risk and uncertainty are synonyms in decision theory
Risk refers to the degree of randomness in an outcome, while uncertainty refers to the degree of knowledge about an outcome
Risk refers to the degree of knowledge about an outcome, while uncertainty refers to the degree of randomness in an outcome
Neither risk nor uncertainty is relevant to decision theory
3.) this question is worth 1 point (LO2) What is the

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