Question

give two examples of decision-making under risk or uncertainly condition

Answer 1

Explanation:

The optimist invents the airplane and the pessimist the parachute. Whenever the decision maker has some knowledge regarding the states of nature, he/she may be able to assign subjective probability for the occurrence of each state of nature. By doing so, the problem is then classified as decision making under risk.

Answer 2

Answer:

to take risk under some decision. like by without knowledge of weather forecast flying an aeroplane. 2.traveling by a train without the knowledge that where the train is gona stop. These are just approx examples...