What are the two types of decision making?
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Q.6. What are the two types of decision making?
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- Q5) what do you understand by rational decision making? How and what accepts will and should be used while reaching a decision? Part II) What is bounded reality decision? Why is bounded reality important and how can it be used to achieve a good result in achieving a rationally bounded reality? Part II) what are rational decision making steps understood by you explain all 7 in your own words? 17 米 in num k $ % & 8 ) 4 5 6 7 8 9. E R 5 | { G H 2 K 3 + || 同 国 # MQ5) what do you understand by rational decision making? How and what accepts will and should be used while reaching a decision? Part II) What is bounded reality decision? Why is bounded reality important and how can it be used to achieve a good result in achieving a rationally bounded reality? f7 num k 8 $ % & 3 4 5 6 7 8. 9. 4 R Y 2 3 + ||Q.3.1 Discuss process benchmarking as one of the benchmarking types and also, provide a suitable example. Q.3.2 Discuss how the test process improvement model ensures that there are no defects in the model. Q.3.3 Test managers have a prime responsibility to build a test team that effectively functions as a unit and strives toward a common goal. Discuss any five guidelines that they should follow to build an effective team. Q.3.4 Using any five factors, compare Commercial Off The Shelf (COTS) software applications and in-house / custom software applications. Q.3.5 The COSO Enterprise Risk Management (COSO ERM) model consists of eight interrelated components that define the way businesses are run and managed. Discuss any four of these components. Q.3.6 In an organization, the test process is managed by software testers at various maturity levels. Testers must have a wide knowledge on how to optimize a technology so that they can determine the risk level of the new…
- Question 14 Which of the following is true of decision trees when used to solve a complex problem? They can be converted into truth tables. They can be used only when the decision maker is risk neutral. They provide a useful way to decompose the problem. None of the choices They are used to compute a decision maker's risk tolerance.Question 2 a. In which way(s) is Sen's (1970) impossibility theorem of project choice superior or inferior to the conventional Cost-Benefit Analysis principles of project choice based on the Hicks-Kaldor compensation test.Q1. As a result of Covid 19, your management has decided that some key yield management analytics be manipulated in order to ensure cashflow for the hotel to survival the turbulence. As a result, you have been asked by management to look into how you can manage at least 50% occupancy for the first quarter, then an increment of 20% on the second quarter, 30% and 40% on the third and fourth quarters respectively. The total rooms available in your hotel is 920, and management expect a base revenue of GHS85,000.00. The base revenue of GHS85,000.00 is expected to increase by 20% on the second quarter, 30% and 40% on the third and fourth quarters respectively. 1. Identify the two most important yield management analytics (measures) that must be considered, offering explanations to what they are in hotel management. 2. Apply the formulas of these two measures to provide the actual figures that you expect to operate with, indicating the step-by-step stages of your calculations for clarity to…
- QUESTION TWO (2) DUNA INCORPORATED is a business conglomerate that produces a variety of beverages (alcoholic and non-alcoholic], Food products (Noodles and Canned Foods) and Personal Care Items. They had been operating in the Nigerian Market for five (5) years and a study conducted by their Research and Development division observed the Nigerian market as vast with great but unequal opportunities. They are therefore in a quandary over which aspects of their business to keep, restructure, sell or invest more in. Using your knowledge of marketing strategy, advise DUNA INCORPORATED on the most appropriate course(s) of action and the implications of any such actions.Question 31 When a firm operates in multiple geographic markets simultaneously it is said to be implementing a product diversification strategy. OA) True B) False Question 32 Multipoint competition exists when two or more diversified firms simultaneously compete in multiple markets, and multipoint competition can serve to facilitate a particular type of tacit collusion called mutual forbearance. A) True B) False Question 33 Institutional owners are usually pension funds, mutual funds, insurance companies, or other groups of investors that have joined together to manage their investments. OA) True B) FalseA.3 Yellowburn University, a not-for-profit higher education organization, has the following mission statement: ‘We aim to deliver excellent tuition in state-of-the-art facilities to help develop socially responsible students and to contribute to global academic research.’ Which TWO of the following would be appropriate objectives to fit in with this mission? To deliver the best possible lessons. Each member of staff is to write two research papers for publication over the next two years. To increase car parking space at the university by 10% in the next 12 months to improve access. To get 15% of all students to receive first class honors degrees each year. To ensure 100% attendance from all students for every lecture.
- QUESTION 3 a. Determine five advantages of doing secondary data analysis. b. Explain five disadvantages of secondary data analysis.QUESTION SIX Consider the following payoff table. STATE OF NATURE S₁ S₂ S3 S₁ S5 So D₁ 7 6 9 11 10 12 D₂ 8 7 12 7 6 10 D₂ 12 10 6 8 9 12 Decision Alternative D₂ 7 14 11 6 7 11 D₂ 5 6 8 10 11 13 D₂ 9 12 12 9 8 If the decision maker is facing conditions of uncertainly, what decision would be made using? (a) Laplace criterion? (b) Maximin criterion? (c) Maximax criterion? (d) Savage criterion? (e) Hurwicz criterion? Use = 0.6. NQ2 Director of Marketing in a company, reports and records showed a decrease in salesby 10% compared to last year, and a decrease in market share by 5% compared to the total sales of competing companies offering the same goods in the same market. JApply the decision-making model with its sequential logical steps to this case stating the details of each step in a clear form Accurate, scientific and practical, as in ?the ideal case of theoretical decision-making, as well as in reality
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