Kindly assist on the above two questions. Q1) which of the below is an example of a compensatory decision-making model? a) dominance b)additive weighting C)lexicography d) satisficing Q2) Which of the decision making models below would be best to use if we want to place more importance on one attribute relative relative to other attributes? a) dominance b) lexicography c)Disjunctive resolution d) satisficing

Kindly assist on the above two questions. Q1) which of the below is an example of a compensatory decision-making model? a) dominance b)additive weighting C)lexicography d) satisficing Q2) Which of the decision making models below would be best to use if we want to place more importance on one attribute relative relative to other attributes? a) dominance b) lexicography c)Disjunctive resolution d) satisficing

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter8: Tactical Decision-making And Relevant Analysis

Section: Chapter Questions

Problem 1MCQ: Which of the following is not a step in the short-run decision-making model? a. Defining the...

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Please study and complete the following table by stating whether the characteristics of the information supporting these decision-making types: (a) are ill-defined or well-defined; (b) use internal or external information; (c) use internal or external information sources; (d) use future-oriented or historical information; (e) are frequent or infrequent; (f) use more or less accurate information. In the final column of the table, please provide one (1) example for each type of decision-making that illustrates and confirms your assessment of the information characteristics for each decision type.
Give an example of each of the following: a quantitative basis for making a decision and a qualitative basis for making a decision. Explain
At which step or steps in the decision-making process do qualitative considerations generally have the greatest impact?a. Specifying the criterion and identifying the alternatives. b. Developing a decision model. c. Collecting the data. d. Making a decision. e. Identifying the alternatives
Which of the following is not part of the decision making process? Reaching a decision Identifying the problem Reversing the decision of not economically sound Quantifying the factors associated with the alternatives Group of answer choices 1 2 3 4
Explain the qualitative factors in decision making.
Distinguish between quantitative and qualitative factors in decision making.
. Decision makers vary widely in the types of decisions they make, the methods of decision making they employ, the information they already possess or can obtain from other sources, and their ability to process information. Consequently, for information to be useful there must be a linkage between these users and the decisions they make. This link is: a. relevance. b. reliability. c. understandability. d. materiality.
Discuss and explain the difference between a vertical analysis and a horizontal analysis. Which method do you feel is better?
“CVP analysis is both simple and simplistic. If you want realistic analysis to underpin your decisions, look beyond CVP analysis.” Do you agree? Explain.
The inputs to a model may have different roles. Among the choices, which should be excluded? Choices: A.decision variables B.intermediate calculation C.No choice given D.conversion factors E.historical data
Information that has the ability to make a difference in the decision-making process is known to possess this quality? relevance verifiability understandability faithful representation
List the common biases and errors in decision-making. Provide suggestions for how to avoid falling into these biases and errors.