Define What It Means to Perform Decision Making Under Assumed Certainty, Risk, and Uncertainty.

It is crucial in the decision making activties to get all the information about the alternatives available, that is why there are two categories provided to be a consideration for the decision makers in making the best decision possible.

Certainty :

A condition where the informations are provided completely for the decision makers and increases the knowledge gathered, also the potential outcomes become well known, which lead the decision making process to an optimal solution possible.

Uncertainty :

Only several informations provided for the decision makers that makes the knowledge reduction which costs blurry outcomes, which can possibly lead the decision making process into disaster.

Risk Analysis:

Computation of each of the outcomes available that tells the level of uncertainty from the expected value (more information -> less risky -> certainty , less information -> more risky -> uncertainty)