Distinguish Between Decision Under Risk And Uncertainty?

1.	Distinguish Between Decision Under Risk And Uncertainty?
Answer» MAKING DECISION for the unknown STATE is decision under uncertainty. Making decisions without considering the consequence is decision under RISK. Making decision for the unknown state is decision under uncertainty. Making decisions without considering the consequence is decision under risk.

Answer»

MAKING DECISION for the unknown STATE is decision under uncertainty.

Making decisions without considering the consequence is decision under RISK.

Making decision for the unknown state is decision under uncertainty.

Making decisions without considering the consequence is decision under risk.

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