Answer:
What is an occurrence or a situation over which the decision maker has little or no control?
A. state of nature
B. chance event
C. unactionable event
Step-by-step explanation:
- Choice A is the best answer. A state-of-nature event is an occurrence or a situation over which the decision-maker has little or no control. An example of this could be a family planning a birthday party only for there to be a thunderstorm the day of the party.
- Choice B is incorrect. A chance event is any event that happens by chance or without any apparent cause. It is also known as "luck". For example, a student does not complete their homework only for their professor to call out sick.
- Choice C is incorrect. An unactionable event is when a problem is created or arises, but no solution is presented for it because all possibilities were not considered. For example, a teacher creates an online question bank. The question bank runs smoothly until the teacher realizes the possibility of students plagiarizing.