Match the following
| List-I (Outcome State) | List-II (Explanation) |
| a. Certainty | 1. Multiple outcomes for each alternative can be identified, but there is no knowledge of the probability to be attached to each. |
| b. Risk | 2. Complete and accurate knowledge of the outcome of each alternative. There is only one outcome for each alternative. |
| c. Uncertainty | 3. Multiple possible outcomes of each alternative can be identified, and a probability of occurrence can be attached to each. |
A. a-1, b-2, c-3
B. a-3, b-2, c-1
C. a-2, b-3, c-1
D. a-2, b-1, c-3
Answer: Option C
This Question Belongs to Management >> Business Statistics
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