Identify and describe three methods used for decision making under conditions of uncertainty
What will be an ideal response?
1. Maximax is a criterion that finds an alternative that maximizes the maximum outcome.
2. Maximin is a criterion that finds an alternative that maximizes the minimum outcome.
3 . Equally likely is a criterion that assigns equal likelihood to each state of nature.
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Which of the following approaches to job design has roots in human-factors literature?
A. Perceptual-motor approach B. Mechanistic approach C. Scientific management approach D. Biological approach E. Motivational approach
Venture teams focus exclusively on which of the following?
A) products in the maturity stage of the product life cycle B) products in the growth stage of the product life cycle C) relationships with large, important customers D) the development of a new product E) the promotional plan for a new product
A difficulty in the study of motives is that _____
a. motives can be observed b. a researcher needs to distinguish between rational and irrational motives c. it is based on self-reports of consumers d. a consumer's motives may be related to his/her demographic characteristics
Which of the following actions is an example of "window dressing?"
A. Borrowing by using short-term notes payable and then using the proceeds to retire long-term debt. B. Borrowing on a long-term basis and using the proceeds to retire short-term debt. C. Offering discounts to customers who pay with cash rather than buy on credit and then using the funds that come in quicker to purchase fixed assets. D. Using some of the firm's cash to reduce long-term debt. E. Any action that does not improve a firm's fundamental long-run position and thus increases its intrinsic value.