Question
Before servicing, a car runs at a speed of 20 km/hr
while after servicing, it runs at a speed of 40 km/h. After servicing the car covers a certain distance in 6 hours. How much time would the car have taken to cover the same distance when it was not serviced?Solution
After servicing, Distance covered by the car = 40 × 6 = 240 km Required time taken = 240/20 = 12 hours
Why is it crucial to clearly define the problem in decision-making?
Which of the following theory says that investors value gains and losses differently, placing more weight on perceived gains versus perceived losses?
Which type of decision is made in a situation that is new, complex, and has no established guidelines?
_________ are concerned with the problems of repetitive nature or routine type matters.
Which of the following will not be a part of decision making process?
Why is it necessary to eliminate other solutions in the decision-making process?
In a democratic decision-making style, the decision is based on inputs from _____
Which of the following is NOT a step in the decision-making process for managers?
The bounded rationality model can be used in the following situations except when __________
What is the risk of choosing a solution solely based on personal preferences?
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