The type of question you are answering right now is an example of a(n) question. Select one: a. semantic differential Ob. open-ended C. dichotomous d. Likert scale e. fixed alternative

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A:

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Decision Theory in Operations Management

Decision theory, also known as the theory of choice, is a branch of statistics that deals with making decisions based on the probability of the occurrence of an event. The chief purpose of decision theory is to identify the best course of action for the company with maximum payoffs.