Compare and contrast programmed and nonprogrammed decisions and describe the decision characteristics of certainty and uncertainty.

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

Identify factors that are important for good decision-making and what factors can inhibit good decision making.

Individuals often shortcut the decision making process. Describe 3 of these shortcuts and provide examples of how these could impact a Managers' decision in the Workplace.

“I had to spend 27 minutes on hold before talking to an agent”. i would like to answer want to Focus on how long the customer had to wait.

GENERATE THE DECISION VARIABLE SOLUTION AND GENERATE A SENSITIVITY REPORT CASE 1. Julia's Food Booth Julia Robertson is a senior at Tech, and she's investigating different ways to finance her final year at school. She is considering leasing a food booth outside the Tech stadium at home football games. Tech sells out every home game, and Julia knows, from attending the games herself, that everyone eats a lot of food. She has to pay $1,000 per game for a booth, and the booths are not very large. Vendors can sell either food or drinks on Tech property, but not both. Only the Tech athletic department concession stands can sell both inside the stadium. She thinks slices of cheese pizza, hot dogs, and barbecue sandwiches are the most popular food items among fans and so these are the items she would sell. Most food items are sold during the hour before the game starts and during half time; thus it will not be possible for Julia to prepare the food while she is selling it. She must prepare…

1) A decision maker using an exponential utility function  would prefer a random payoff with an expected value of X to a certain payoff of X.  True  False   2) In a decision tree, a circular node indicates a point where a random event occurs.  True  False   3) The optimistic and conservative approaches to decision making will always give the same result.  True  False

Miriam and Devon are both upper-level managers, but have very different decision-making styles.  Please name and describe in your own words four decision making processes that could be used to guide their decision making.  In addition, provide and explain in your own words 10 ways in which their decision could, in general, be derailed or hindered, and explain each.

Bias in decision-making happens without a thought in most decisions. Identify a recent or current event in which you think bias was evident in the decision-making process surrounding that event.

Apply the PACED decision-making model to a decision you will need to make about your life after high school.  You should: define the problem; complete a PACED grid with at least 3 alternatives and 5 criteria; explain how you define (+), (-), and (x) in your evaluation; explain your final decision.