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Author Question: Which of the following quantitative decision-making techniques would be appropriate for a manager ... (Read 15 times)

newbem

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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



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meow1234

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Reply #1 on: Jul 21, 2018
Answer to Question 1

B

Answer to Question 2

A


newbem

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

EAN94

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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