22 defective pens are accidentally mixed with 136 good ones. It is not possible to just look at a pen and tell whether or not it is defective. One pen is taken out at random from this lot. Determine the probability that the pen is taken out is a good one.
Numbers of pens = Numbers of defective pens + Numbers of good pens ∴ Total number of pens = 136 + 22 = 158 pens P(E) = (Number of favourable outcomes) / (Total number of outcomes) P(picking a good pen) = 136/158 = 0.860
________ is computer information system used to analyse the firm’s databases and turn them into information useful for decision making.
A manager's freedom to make totally rational decisions is restricted by internal and external environmental factors and by the manager's own characteris...
Which of the following decision theory is concerned with how people should make decision?
The propensity of a decision maker to be influenced by the manner in which the information is presented to him/her is known as ________
A decision matrix is a technique of decision making developed by ______
Daniel Kahneman won the Nobel Prize in Economic Sciences in 2002 for which of the following theory?
Which of the following types of decision is needed for unique problems?
The decisions that relate to mundane activities and do not require much thought are known as ________
A decision is said to be rational when it is based on _______
____________ refers to an organized technique of decision making in which team members usually note down their opinions and ideas and settle on the idea...
