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- Can you provide instances of decision patterns observed in the manufacturing industry?What is business decision modeling? How would you define the business process in your own words? What are the actual applications in business?What are the key decision rules for managers facing flat or declining markets?
- What is a decision tree?Name the types of consumer decision-makingprocesses. List some products you have bought usingeach type. Have you ever bought a product on impulse?If so, describe the circumstances.Explain the rational decision making process, the role of Evidence-Based Management and how decision making is affected by bounded rationality?