This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Which of the following quantitative decision-making techniques would be appropriate for a manager ... (Read 63 times)

newbem

  • Hero Member
  • *****
  • Posts: 579
on: Jul 21, 2018

Which of the following quantitative decision-making techniques would be appropriate for a
  manager who has to make a series of sequential decisions where the expected payoffs and
  probabilities associated with each alternative are known?


 
 

a. Payoff matrix
  b. Decision tree
  c. Game theory
  d. Queuing model
  e. Distribution model



Question 2

One of the decision alternatives you are evaluating will be affected by the national
  unemployment rate. If the rate is below 6 percent (p=.2), the expected payoff is 200,000. If
  the rate is between 6 and 7 percent (p=.3), the expected payoff is 150,000. If
  unemployment is above 7 percent (p=.5), the expected payoff is a loss of 100,000. What
  is the expected value of the alternative?


 
 

a. 35,000
  b. 250,000
  c. 83,333
  d. 135,000
  e. Need more information to compute the expected value



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

meow1234

  • Sr. Member
  • ****
  • Posts: 333
Reply #1 on: Jul 21, 2018
Answer to Question 1

B

Answer to Question 2

A


newbem

  • Member
  • Posts: 579
Reply 2 on: Jul 21, 2018
Excellent

ttt030911

  • Member
  • Posts: 315
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

In Eastern Europe and Russia, interferon is administered intranasally in varied doses for the common cold and influenza. It is claimed that this treatment can lower the risk of infection by as much as 60–70%.

Did you know?

Though “Krazy Glue” or “Super Glue” has the ability to seal small wounds, it is not recommended for this purpose since it contains many substances that should not enter the body through the skin, and may be harmful.

Did you know?

The Babylonians wrote numbers in a system that used 60 as the base value rather than the number 10. They did not have a symbol for "zero."

Did you know?

Eat fiber! A diet high in fiber can help lower cholesterol levels by as much as 10%.

Did you know?

When intravenous medications are involved in adverse drug events, their harmful effects may occur more rapidly, and be more severe than errors with oral medications. This is due to the direct administration into the bloodstream.

Blocked at every turn by congressional Republicans who hated him, President Obama turned to techniqu Blocked at every turn by congressional Republicans who hated him, President Obama turned to techniqu
This pre-Anasazi community in Mesa Verde, Colorado, was carved into a cliff, making it nearly impreg This pre-Anasazi community in Mesa Verde, Colorado, was carved into a cliff, making it nearly impreg
At-a-Glance Joint Movement Techniques Cont At-a-Glance Joint Movement Techniques Cont
Recent history of biochemistry shown by the introduction of new techniques. (part 1) Recent history of biochemistry shown by the introduction of new techniques. (part 1)
Respirator decision logic based on the EPA method. It is very important to know when to use supplied ... Respirator decision logic based on the EPA method. It is very important to know when to use supplied ...
Doing Qualitative Research: Designs, Methods, and Techniques Doing Qualitative Research: Designs, Methods, and Techniques
Video: Arthroscopy

For a complete list of videos, visit our video library