Under which decision-making conditions are managers operating when they use payoff
matrices or decision trees to reach their decisions?
a. Certainty
b. Uncertainty
c. Probability
d. Rationality
e. Risk
Question 2In which of the following decision-making conditions is the decision maker aware of all the
alternatives and able to assign probabilities to the costs and payoffs of each alternative?
a. Certainty
b. Uncertainty
c. Risk
d. Rationality
e. Probability