Explain difference between risk and ambiguity

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1. Explain the difference between risk and ambiguity. How might decision making differ for a risky versus an ambiguous situation?

2. Analyze three decisions you made over the past six months. Which of these were programmed and which were nonprogrammed? Which model—the classical, administrative, or political—best describes the approach you took to making each decision?

Reference no: EM131735552

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