Briefly state the different between rational decision making, bounded rational rationality an decision making by intuition.
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Briefly state the different between rational decision making, bounded rational rationality an decision making by intuition.
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- A model for decision making process, discuss briefly each of the elements of the process as shown in the figure.A key element of effective decision-making is to consider both _______ and quantitative factors. Question 3 options: qualitative advanced-quantitative historical dataCompare and contrast programmed and non programmed decisions, and describe the decision charasteristcs of certainity and uncertainity.
- In essay form, What is a decision tree?d. What is the best decision alternative using MINIMAX REGRET decision criterion? e. What is the best decision alternative using criterion of realism at alpha = 0.8?3 All of the following steps are a part of the decision-making process except : Select one: a. Analyzing options. b. Developing options. c. Implementing the decision. d. Defining the situation. e. Delegating the decision.