Question: Risk describes __________. Select one: a. a situation when the decision maker has some probabilistic estimate of the outcomes of each alternative b. the situation

Risk describes __________.

Select one:

a. a situation when the decision maker has some probabilistic estimate of the outcomes of each alternative

b. the situation when the decision maker has no knowledge of outcome probabilities

c. the situation when the decision maker has knowledge of alternatives but not their likely outcomes

d. a decision making condition that is typically avoided by management

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