Difference between revisions of "Uncertainty"
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[[Uncertainty]] is a situation which involves imperfect or unknown [[information]]. It applies to predictions of future events, to physical measurements that are already made, or to the unknown. | [[Uncertainty]] is a situation which involves imperfect or unknown [[information]]. It applies to predictions of future events, to physical measurements that are already made, or to the unknown. | ||
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| + | ==Definition== | ||
| + | According to [[Management by Robbins and Coulter (14th edition)]], | ||
| + | :[[Uncertainty]]. A situation in which a decision maker has neither [[certainty]] nor reasonable probability estimates available. | ||
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==Related lectures== | ==Related lectures== | ||
*[[Individual Decisions Quarter]]. | *[[Individual Decisions Quarter]]. | ||
| − | [[Category: Septem Artes Administrativi]][[Category: Articles]] | + | [[Category: Management]][[Category: Septem Artes Administrativi]][[Category: Articles]] |
Revision as of 18:44, 31 May 2020
Uncertainty is a situation which involves imperfect or unknown information. It applies to predictions of future events, to physical measurements that are already made, or to the unknown.
Definition
According to Management by Robbins and Coulter (14th edition),
- Uncertainty. A situation in which a decision maker has neither certainty nor reasonable probability estimates available.
