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Is a situation in which a decision maker has neither certainty nor reasonable probability estimates available?

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Is a situation in which a decision maker is able to estimate the likelihood of certain outcomes?

Risk is the condition in which a decision maker is able to estimate the likelihood of certain outcomes.

Which of the following is the step in the decision

The correct answer is evaluating the decision's effectiveness.

Is a decision that is unique and nonrecurring and requires a custom made solution?

Non-programmed decisions: a unique and nonrecurring decision that requires a custom-made solution.  Unstructured problem: a problem that is new or unusual for which information is ambiguous or incomplete.

Which of the following approach in decision

Classical Decision Model • An approach to decision making that tells managers how they should make decisions. Approach assumes that managers are logical and rational.

situation decision maker certainty reasonable probability estimates

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