Decision Models
Instructions:
Initial posts addressing primary prompt due by Monday, 11:59 pm EST.
Write a minimum of 250 words for each of the discussion questions below.
Reply posts to two of your classmates addressing secondary prompt due by Thursday, 11:59 pm EST.
Replies should contain a minimum of 80 words.
Primary Prompt:
A decision model may be descriptive, heuristic, or prescriptive.
In your judgment, what are some important requirements for making good decision models regardless of whether they are descriptive, heuristic, or prescriptive? How would you check the validity of a model that you have selected?
Describe the reasons why and when a manager might use a heuristic decision model. Use a real life example, and explain your reasons within the context of your example.
Secondary Prompt:
In your two replies to classmates, explore how uncertainties may alter the outcomes of their real-life example model.
