Decision-making on the basis of risk situations and processes

Such concepts as situation, process, risk, usefulness, risk and risk-free situations and the processes, given risk and usefulness are defined in the article. The formula ratios allowing calculating risk and usefulness for a discrete and continuous set of observations at various completeness of information about the assessed phenomena are presented. The tables of degree of usefulness and degree of risk that allow assessing and making decision in various situations and processes are provided. Comparison of situations and processes is examined. The examples illustrating application of the formula ratios for assessment of situations in business are given.

decision-making, situation, process, number of factors, number of results, risk, usefulness, given risk, given usefulness, degree of risk (of usefulness), efficiency of a situation (process)