Financial analysis should be used as an input to decision making, not as the decision-making process. True or False
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Financial analysis should be used as an input to decision making, not as the decision-making process. True or False
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- True or false One of the roles of the management accountant in the steep analysis is to assist the management in determining/assessing the logic between the identified factors their competitiveness/strategy, and its effect on their financial performance. The first step in strategic analysis is to define the purpose/objectives of the analysisHypothesis testing is a well-structured process that consists of several logical steps, and it aims at refining a business decision. Hypothesis testing is a quite common technique used by researchers. With regard to hypothesis testing, answer the following questions. What are the steps to conduct a hypothesis test? How does a researcher determine which statistical test to conduct? How does a researcher determine which level of significance to use? What software programs can be used to compute these tests? Where is the critical test value found? How can one determine if the null hypothesis should be rejected? Give a business example on each of the three possible cases of hypothesis testing. Do you think the rejection region will be different in each one of the three cases? Why? Why not? Justify your answers using examples and reasoning.United Garments is looking to implement Business Intelligence to improve the decision making capability within the organization. To which decision making level you will recommend United Garments to implement Business Intelligence and why?
- Decision trees use:a) probabilities.b) payoffs.c) logic.d) options.e) all of the above.How does the presence of uncertainty affect the usefulness of the model?Comparing the potential outcomes of a decision by examining several different prices or production projections on a budget is known as: A. Systems analysis B. Strategic management C. Subjective probability D. Sensitivity analysis
- An optimistic decision-making criterion is sometimes called: a. equally like criterion b. decision making under certainty c. maximin criterion d. maximax criterion28 When managers make decisions that are objective and for the best interest of the firm instead himself/herself, they are following the concept of A) escalation of commitment B) bounded rational decision making C) rational decision making D) intuitive decision making E) none of the aboveYou often hear about the trade-off between risk and reward. Is this trade-off part of decision making under uncertainty when the decision maker uses theEMV criterion? For example, how does this work in investment decisions?
- Provide an example of a business decision where business analytics should always be used and justify your answer. Are there any critical resource requirements needed to support business analytics in this situation? What if these requirements can't be met?Which of the following are important to investors evaluating direct participation programs? I. The economic soundness of the program II. The expertise of the general partner III. The basic objectives of the program IV. The start-up costs A I, II, and IV B I, II, and III C I, II, III, and IV D II, III, and IVSelect the least accurate statement. A) The expected monetary value (EMV) criterion represents the long-run average of uncertain outcomes, so it should only be used for recurring decisions. b) For each possible decision and each possible outcome, the payoff table lists the associated monetary value. c)The certainty equivalent is the certain dollar amount a risk-averse decision maker would accept in order to avoid a gamble altogether. D) For a risk-averse decision maker, the certainty equivalent is less than the expected monetary value (EMV).