A key element of effective decision-making is to consider both _______ and quantitative factors. Question 3 options: qualitative advanced-quantitative historical data
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A key element of effective decision-making is to consider both _______ and quantitative factors.
Question 3 options:
|
qualitative |
|
advanced-quantitative |
|
historical |
|
data |
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- Requirement Classify each of the actions (a-f) according to its step in the five-step decision-making process (identify the problem and uncertainties; obtain information; make predictions about the future; make decisions by choosing among alternatives; implement the decision, evaluate performance, and learn). (Select all that apply. If a box is not used in the table, leave the box empty; do not select a label.) Action Decision-Making Process Step a. Mr. Sizemore decides to buy power tilling equipment rather than hire additional landscape workers. b. Mr. Sizemore discusses with his employees the possibility of using power equipment instead of manual processes to increase productivity and thus profits.Quantitative Methods 1.Which of the following is a decision-making criterion that is used for decision making under risk? a.) expected monetary value criterion b.) Hurwicz criterion (criterion of realism) c.) optimistic (maximax) criterion d.) equally likely criterion 2.If probabilities are available to the decision maker, then the decision-making environment is called a.) certainty. b.) uncertainty. c.) risk. d.) none of the above. 3.The most that a person should pay for perfect information is ________________ a.) the EVPI. b.) the maximum EMV minus the minimum EMV. c.) the maximum EOL. d.) the maximum EMV.Question 3: To effectively utilize organizational resources organization must indulge in risk management. You have to go beyond the definitions and critically evaluate how each element of risk management contributes to effective decision making.
- Which of the following statements is TRUE? Question 19Answer a. The origins of management by exception are generally credited to Frederick W. Taylor. b. The person most responsible for initiating the use of interchangeable parts in manufacturing was Henry Ford. c. The origins of the scientific management movement are generally credited to Henry Ford. d. The person most responsible for initiating the use of interchangeable parts in manufacturing was Walter Shewhart. e. The person most responsible for initiating the use of interchangeable parts in manufacturing was Eli Whitney.Management skills include: Question 13 options: leadership, time and stress management innovation and creativity, communication information gathering, negotiation, coaching and gathering All of the aboveQuestion 1. How can gender bias in historical data be addressed? Choices Make the bias explicit and rectify it. Only use data from the last year. Only hire male employees. Ignore it. Question 2 What did the COMPAS data reveal about black and white defendants?Question 2 choices: Both groups had equal risk scores. White defendants were more likely to be labeled as risky. Black defendants were more likely to be falsely labeled as risky. Both groups had the same rate of recidivism. Question 3. In what capacity are algorithms changing employees' lives? Question 3 choices: Predicting retirement ages. Supporting hiring, promotion, training, and compensation decisions. Dictating daily schedules. They ensure higher salaries for everyone. Question 4 .Why was a gender-neutral STEM ad shown to more men than women on a social media platform?Question 4 options: The ad was mislabeled. Men were more interested in STEM. It was designed that way. Young women were more expensive to advertise to. Question…
- Multiple choice question Productivity increases when Select one: a. inputs increase while outputs remain the same b. outputs decrease while inputs remain the same c. inputs decrease while outputs remain the same d. inputs and outputs increase proportionately Question 17 One of the disadvantages of the perpetual counting system is that there is no stock control between counting periods. Select one: a. False b. True Question 18 Areas that commonly feature industrial engineers include all but one of the following: Select one: a. Total quality management b. Ergonomics c. Guidelines for profit sharing. d. Setting labour standards e. Setting parameters for bonus schemes Question 19 The main purpose of industrial engineering is to study the relationship between ______________ and _____________. Select one: a. Stakeholders and management. b. Humans and machines. c. Money and profit. d. Marketing and…Nissan car company extending the due date for delivery is an example of ________. a. None of the given options b. Operational decision c. Major decision d. Strategic decision1.Adverse government policies, entry of new competitors, and shifting tastes of buyers are characteristic of which of the following? Question 11 options: A) strengths B) threats C) opportunities D) weaknesses 2 Danny needed a television and had rounded his decision down to three potential options. He began to compare these. What stage of the consumer decision-making process did this occur at? A)cognitive dissonance B)information search C)Consideration stage D)evaluation of alternatives
- At Jill's Custom Cakes, the shop includes different areas for mixing, baking, decorating, and packaging. This demonstrates the importance of ______. Question 11 options: A) methods planning B) location planning C) layout planning D) capacity planning E) quality planningQuestion 1: In what particular situation where a manager needs to evaluate alternative courses of action to come up with a decision?The idea that managers make decisions with incomplete information is an example of which term below? Question 33 options: satisficing bounded rationality decision criteria Management by Objectives