what is a course of action or strategy that may be chosen by a decision maker quizlet

What techniques are used to solve decision-making problems under uncertainty?

Maximizing the maximum possible payoff- the maximum criterion(optimistic). Maximizing the minimum possible payoff- the maximum criterion(pessimistic). Minimizing the maximum possible regret to the decision maker- The minimax criterion(regret).May 25, 2021

What is an occurrence or a situation over which the decision maker has little or no control part 2?

An occurrence or situation over which the decision-maker has little or no control is called a state of nature.

What must a decision maker understand in order to make the most effective decision possible quizlet?

To be effective decision makers, manager should focus on what is important; be logical and consistent; acknowledge both subjective and objective thinking; consider only as much information and analysis as is necessary; gather relevant information and informed opinion; and be flexible.

What is a decision when does a person have to make a decision quizlet?

A decision is a solution to a problem, a diagnosis, or a commitment to an action. One has to make a decision when there is more than one solution to a problem.

What is a course of action or strategy that may be chosen by decision maker?

STUDY. Alternative. A course of action or strategy that may be chosen by the decision maker. State of Nature. An occurrence or a situation over which the decision maker has little or no control.

Which of the following comes earliest in the Decision Making process?

Which of the following comes EARLIEST in the​ decision-making process? Develop specific and measurable objectives.

What is the most important step of the decision-making process?

Make your decision Once you have taken the time to outline your goals, gather your information, and then evaluate your different possibilities, the time has come for the most important step in the decision-making process.Oct 20, 2020

What must a decision maker understand in order to make the most effective decision possible?

Decision makers must first make sure that they completely understand the problem. It is a good idea to be able to look at a decision from multiple perspectives. This can be accomplished through selecting a group of people who will look at and define the problem from different perspectives.

Which is the most important step of the decision-making process justify your answer quizlet?

Evaluating choices is the most important because it is where each decision is actually weighed and considered. This step has to be included for a decision to actually be made.

Which of the following is a characteristic of making a good decision?

Which of the following is a characteristic of making good decisions? Having a positive attitude helps decision making to become a more positive experience.

What is the first thing a student should do when developing an action plan?

The first step in developing an action plan is to clarify the goal by visualizing an outcome, determining the goal's measurability, and by looking at possible difficulties that may arise in pursuing the goal. The second step is to create a list of possible actions by brainstorming as many ideas as possible.

What is the purpose of brainstorming during the development of an action plan?

D. What is the purpose of brainstorming during the development of an action plan? A. It keeps the list of action steps to a minimum.