Which type of the decision is also called important decision? A. Strategic& operational decisions B. Major and minor decisions C. Programmed and non-programmed decisions
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A: 1) ANSWER: FALSE
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- The model in Example 9.3 has only two market outcomes, good and bad, and two corresponding predictions, good and bad. Modify the decision tree by allowing three outcomes and three predictions: good, fair, and bad. You can change the inputs to the model (monetary values and probabilities) in any reasonable way you like. Then you will also have to modify the Bayes rule calculations. You can decide whether it is easier to modify the existing tree or start from scratch with a new tree.When Delroy draws on well-developed procedures in his job of grocery store inventory clerk to determine which products to stock first, he is making which type of decision? a. Tactical decision b. Programmed decision c. Operational decision d. Non-programmed decisionThe decision making is a. The process of rejecting the wrong alternative from multiple possible solutions b. The Process of adopting the right decision c. The process of selecting one of several possible solutions d. The process of selecting several of several possible sol
- Which of the following does NOT apply to decision making under uncertainty? a. Minimax regret b. Maximin return c. Maximize expected return d. Maximax returnWhich of the following is the fourth step in the decision making process? a.Identify decision criteria b.Allocating weight to each criteria c.Developing Alternatives d.Selecting Alternative9- Majid is framing the decisions that will contribute significantly to the achievement of company objectives.The above statement refers to which of the following? a. Majid is framing strategic decisions b. Majid is framing simple decisions c. Majid is framing minor decision d. Majid is framing operational decisions
- 22. Which of the following factors will affect decision making? A. The time available to make the decision. B. The effort that a given strategy will involve.C. The decision maker’s knowledge about the environment.D. The importance of making an accurate decision.The Decision Variables in a What If analysis provide the limitations for each variable. True FalseNEED HELP WITH THE EXCEL: DECISION VARIBLES OBJECTIVE FUNCTION CONTRAINSTS
- true or false 8.Influence diagrams cannot be regarded as a method for eliciting decision trees.An optimistic decision-making criterion is sometimes called: a. equally like criterion b. decision making under certainty c. maximin criterion d. maximax criterionWhich of the following statements is true concerning decision tree conventions? a.Time proceeds from right to left. b.The trees are composed of circles, triangles and ovals. c.The nodes represent points in time. d.Probabilities of outcomes are shown to the right of the end nodes.