All of the following steps are a part of the decision-making process except : Select one: a. Analyzing options. b. Developing options. c. Implementing the decision. d. Defining the situation. e. Delegating the decision.
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- 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.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 decisionsThe first stage of decision-making is a.generating alternative solutions. b.choosing the best alternative. c.evaluating the results. d.identifying and diagnosing the problem.
- The first step in rational decision making is : a. recognizing that a decision is necessary b. choosing an alternative c. understanding who will make the decision d. identifying alternatives to the problem This multiple choice question from INTRODUCTION TO BUSINESS course.just write for me the final answer.1. 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.Identify 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.
- Umer is a businessman, and with time, the demand for his product increases rapidly. Toeffectively manage the supply and demand, he should have to develop an effective decision-making process to select different alternatives. He is unable to decide what he should do. Make some valuable suggestions for a practical decision.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 decisiona. Use a decision tree to recommend a decision. b. Use EVPI to determine whether Gorman should attempt to obtain a better estimate of demand. c. A test market study of the potential demand for the product is expected to report either a favorable (F) or unfavorable (U) condition. The relevant conditional probabilities are as follows: P(F | s1) = 0.10 P(U | s1) = 0.90 P(F | s2) = 0.40 P(U | s2) = 0.60 P(F | s3) = 0.60 P(U | s3) = 0.40 What is the probability that the market research report will be favorable?
- Decision trees use:a) probabilities.b) payoffs.c) logic.d) options.e) all of the above.You may need to use the appropriate technology to answer this question. Management Decision Systems (MDS) is a consulting company that specializes in the development of decision support systems. MDS has a four-person team working on a current project with a small company to set up a system that scrapes data from a collection of websites and then automatically generates a report for management on a daily basis. Activity A B C Description Report generation Web scraping Testing Immediate Predecessor This answer has not been graded yet. A, B Optimistic 2 (d) Should you use the estimate in (b) or (c)? 5 1 Time (Weeks) (a) Construct the project network. (Submit a file with a maximum size of 1 MB.) Choose File No file chosen Most Probable 9 10 1 Pessimistic 13 The probability estimate from (b) based on the critical path is more accurate. The probability estimate from (c) based on both paths is more accurate. O The probability estimates from (b) and (c) are equal. 12 (b) Based solely on the…You may need to use the appropriate technology to answer this question. Management Decision Systems (MDS) is a consulting company that specializes in the development of decision support systems. MDS has a four-person team working on a current project with a small company to set up a system that scrapes data from a collection of websites and then automatically generates a report for management on a daily basis. Time (Weeks) Activity Description ImmediatePredecessor Optimistic Most Probable Pessimistic A Report generation 2 9 13 B Web scraping 6 10 12 C Testing A, B 1 1 1 (a) Construct the project network. (Submit a file with a maximum size of 1 MB.) (b) Based solely on the critical path, estimate the probability that the project will be complete within 12 weeks. (Round your answer to four decimal places.) (c) Using all paths through the project network, estimate the probability that the project will be complete within 12 weeks. (Round your answer to…