a key tool used by all decision makers a. generate results b. purpose c. a model d. assumptions and limitations
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7. a key tool used by all decision makers
a. generate results
b. purpose
c. a model
d. assumptions and limitations
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- 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 1 8 12 B Web scraping 4 9 11 C Testing A, B 1 1 1 (b) Based solely on the critical path, estimate the probability that the project will be complete within 11 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 11 weeks. (Round your answer to four decimal places.)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.) It is not 0.9099 (c) Using all paths through the project network, estimate the probability that the project will be complete within 12 weeks. (Round…comes to an end with the actual implementation of a decision Select one: a. Decision making b. Planning c. Controlling O d. Motivation
- What are the key distinctions between operational data and decision-making information?3. You are a marketing manager for a food products company, considering the introduction of a new brand of organic salad dressings. You need to develop a marketing plan for the salad dressings in which you must decide whether you will have a gradual introduction of the salad dressings (with only a few different salad dressings introduced to the market) or a concentrated introduction of the salad dressings (in which a full line of salad dressings will be introduced to the market). You estimate that if there is a low demand for the salad dressings, your first year’s profit will be $1 million for a gradual introduction and million (a loss of $5 million) for a concentrated introduction. If there is high demand, you estimate that your first year’s profit will be $4 million for a gradual introduction and $10 million for a concentrated introduction. The payoff table for the organic salad dressings marketing is given as follows: Low Demand High Demand Gradual 1…4 Match the type of analytics to which tool would be in each scenario. A company would like a summary of the number of employees that called out sick last week. V A company would like to determine how many of each product should they manufacture each day in order to maximize profits. A company would like to estimate the average number of new clients that will become members next month. a. Predictive analytics b. Prescriptive analytics c. Descriptive analytics
- с Grand Canyon University | Privat X Student Portal | Main Topic 1 - Decision Analysis - Homew Problem 4-25 eBook EVPI: $ Decision Alternative Manufacture, di Purchase, de https://v2.cengagenow.com/ilm/takeAssignment/takeAssignmentMain.do?invoker&takeAssignmentSessionLocator=&inprogress=false P(F)- State of Nature Low Demand Medium Demand High Demand 51 -20 10 X The Gorman Manufacturing Company must decide whether to manufacture a component part at its Milan, Michigan, plant or purchase the component part from a supplier. The resulting profit is dependent upon the demand for the product. The following payoff table shows the projected profit (in thousands of dollars): 52 40 45 BUS-660 Topic 1 DQ 1 53 100 70 The state-of-nature probabilities are P(S1) 0.35, P(S2) 0.35, and P(s) - 0.30. a. Use a decision tree to recommend a decision. Recommended decision: Purchase component b. Use EVPI to determine whether Gorman should attempt to obtain a better estimate of demand. d. What is Gorman's…The major role of engineering economy in decision making is: Select one: a. Data collection b. Select the best alternative c. Implementation and monitoring d. none of the above 25Q1. What do you understand by the quality of information? What are the dimensions ofinformation quality?Q2. What is the role of database management systems (DBMS) in information systems?Q3. Why is management information systems (MIS) looked upon as a strategic need ofmanagement today?Q4. What is the difference between programmed decisions and Nonprogrammed decisions?Q5. What is the decision support systems (DSS) and how it could help you as a manager or aleader?
- Please do not give solution in image formate thanku.Discuss the importance of handling problems effectively. • It is made early on when the problem first surfaces • It includes those who are directly involved • Reasons for the decision are explained to those who are not directly involved in handling problems• It is clear and unambiguous• It is in line with stated organizational goals • It aligns with organizational policies, vision, and values • All the implications of the decision have been thought through.35 *:A criticism of the rational choice model of decision making is-17 Ajthat it is never followed in practice. O B)that it is too complex for people in organisations to understand. C)the assumption that decision makers have unlimited resources to search for and process information. Djall of the above O