Common management science term for opportunity cost

Assignment Help Operation Management

Reference no: EM131715950

1. Which of the following is an area(s) of sensitivity analysis?

a. dominance b. tradeoffs c. risks d. all of these

2. The reasons to model are necessity, to make better decisions, insight, intuition, and aiding in presentation. True/False

3. A decision maker using maximin criterion should be considered to be avoiding risk.

True/False

4. In decision analysis the fact that it rained and you didn’t carry an umbrella is an example of an outcome.

True/False

5. Decision modeling always provides the manager with the best possible decision.

True/False

6. The common Management Science term for opportunity cost is remorse.

True/False

Reference no: EM131715950

Questions Cloud

What types of caches were present : In your past projects, what types of caches were present? How would you decide if you should buy servers with more memory or disk space?

Explain the method of sampling : The investigator would like to make estimates for each class as well as the total body of undergraduates. Choose a method of sampling and give the reasons.

Design a data schema : Design a data schema for [insert example here]. // I like to use one of the products or features at my company, but you could also use familiar scenarios

Explain the advantages of an automated mpi : Do you feel that the United States should have a National HIV registry which lists the names of those infected with the disease? Why or why not?

Common management science term for opportunity cost : The common Management Science term for opportunity cost is remorse.

Explain competitive positions including foreign market entry : Marketing Budget (MS Excel worksheets template). Explain competitive positions including foreign market entry and the resulting impact on business strategy.

Discuss develop knowledge about the case being investigated : Steps to be performed after admission-the use of polygraph and collateral information to develop knowledge about the case being investigated

The expect value of perfect information is : The expect value of perfect information is:

What is the ending balance for raw materials : You work for Thunderduck Custom Tables Inc. This is the first month of operations. What is the ending balance for raw materials

User Account

All Pages