1.3.1.1d - Risk and uncertainty

Distinguish risk from uncertainty in business decisions.

Use d - risk and uncertainty to connect the rule to the data and decision in the question.

This matters because d - risk and uncertainty determines what can be inferred or chosen; begin with the stated conditions and keep the conclusion tied to the evidence.

Example: apply d - risk and uncertainty to one small, clearly defined case, show the key step or comparison, and explain the result in words.

Boundary: d - Risk and uncertainty is not a universal recommendation. Check the syllabus scope, assumptions, units and the limits of the evidence before generalising.