10. If a decision is impossible to be made using one decision model, A a decision shall not be made. B. one can try combining more than one models. C. one must break the tie and simply choose randomly from the best options under tied bracket. D. then there was an error in using that decision model.
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Select the correct answer(s) for each item. If NONE or MORE THAN ONE of the choices is the correct answer, choose E.
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- Explain all, please Match the following decision making definition to one of the following concepts: (Consensus Decision, Pro/Con Listing, Plurality Decision, Preference Trees, Flipism, Majority Decision, Range Voting, Prioritization or Satisficing) 1. Outlining the costs and benefits of a decision 2. Only considering options until the first acceptable one is presented 3. Listing goals in rank order 4. Progressively paring-back a complicated decision by dealing with one problem at a time 5. Making a decision by using some random methodIdentify the statement which is TRUE regarding decision making. a. Managers should use only ready-made solutions all the time. b. Managers should not use any ready-made solutions at all. c. Managers should rank the solutions according to his personal preferences only. d. Managers should rank the solution according to its advantages and disadvantages.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.
- An optimistic decision-making criterion is sometimes called: a. equally like criterion b. decision making under certainty c. maximin criterion d. maximax criterion1. Discuss the process you would employ to develop a suitable balanced scorecard for a tourist site organization and give examples of measures that would be incorporated within it. 2. Discuss how break even analysis can aid management in decision-making. 3. Discuss the practical difficulties associated with the use of breakeven analysis by managers in decision-making.What is the major disadvantage to the expected value criterion in a decision tree? none of the other choices creating a correct decision tree modeling the decision process designing experiments to get posterior probabilities Expected values work best for a decision made many times. « Previous Not Simpfun
- 9- 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 decisionsAnswer A.2 a-e a-c is in the picture here is d and e d) What is the qually likely decision? e) Develop a decision tree. Assume each outcome is equally likely, then find the highest EMV.Which 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 Alternative
- A decision table describes results associated with which of the following A) Two decision variables B) One decision variable and one uncertain variable C) Two uncertain variables D) None of the aboveThe 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 solWhich of the following characterizes decision-making under uncertainty? a. Relevant parameters have known values. b. The likelihood of possible future events is unknown. c. none of the above d. Certain parameters have probabilistic outcomes. e. Decision-makers must rely on probabilities in assessing outcomes.