Decision making assignment
1. How would you employ the decision-making process in a business environment? Recommend picking a business and discuss the following areas: Define the problem, Identity the alternatives, determine the criteria, evaluate the alternatives, and choose an alternative? The answer can be hypothetical situation. 2. Discuss the roles played by the qualitative and quantitative approach to managerial decision making? Why is it important for a mangers or decision maker to have a good understanding of both of these approaches to decision making? 3. What are the advantages and disadvantages of analyzing and experimenting with a model as opposed to a real object or situation? 4. Explain Poisson Probability Distribution and provide an example. 5. Explain Random Variables and provide example.
The paper is to be at least two pages and the written portion is to address the APA format (700 words). The student is not to repeat the question for filling space. Submit the paper in Moodle with the completed cover page. The paper will be graded using the rubric grading sheet which is listed in Moodle.