A rule is simpler than a policy or a procedure to implement. 99) Implementing a procedure requires more judgment and interpretation than implementing a policy. 100) A highway speed limit is an example of a policy. 101) Managerial decisions are likely to become more programmed as managers rise in an organizational hierarchy. 102) Most managerial decisions include an element of risk. 103) Uncertainty involves a situation in which the probability of a certain outcome is known to be small. 104) A manager is more confident of his or her assessment of a situation if it involves risk rather than uncertainty