The \"point at which to reorder\" depends directly on which of the following? (a
ID: 3250637 • Letter: T
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The "point at which to reorder" depends directly on which of the following? (a) EOQ (b) ordering cost (c) lead time (d) storage costs (e) unit purchasing cost Which of the following is the fourth step of the "Six Steps in Decision Making"? (a) Select one of the mathematical decision theory models. (b) List the possible alternatives, (c) Apply the model and make your decision. (d) List the payoff or profit of each combination of alternatives and outcomes. Optimistic decision makers tend to ________. (a) magnify favorable outcomes (b) ignore bad outcomes (c) discount favorable outcomes (d) (a) and (b) In decision theory, we call the payoffs resulting from each possible combination of alternatives and outcomes ________. (a) marginal values (b) conditional values (c) conditional probabilities (d) Bayesian values A rational decision maker must choose between two Alternative 1 has a higher EMV than Alternative 2, but the decision maker chooses Alternative 2. What might explain why this occurs? (a) Alternative 2 may have a higher expected utility. (b) Alternative 1 may have a lower expected opportunity loss. (c) The probabilities are not known. (d) A rational decision maker could not possibly choose alternative 2. A utility curve showing utility increasing at an increasing rate as the monetary value increases (a) a risk avoider. (b) utility assessment. (c) a risk seeker. (d) conditional values. Which of the following is not considered to be one of the components of a time series? (a) trend (b) seasonality (c) variance (d) cycles Which of the following is not a characteristic of trend projections? (a) The variable being predicted is the Y variable. (b) Time is the X variable (c) It is useful for predicting the value of one variable based on time trend. (d) A negative intercept term always implies that the dependent variable is decreasing over In making inventory decisions, the purpose of the basic EOQ model is to (a) minimize carrying costs.Explanation / Answer
19)Which of the following is the fourth step of the "Six Steps in Decision Making"?
answer is :Identify the possible outcomes or states of nature. but here
List the payoff or profit of each combination of alternatives and outcomes.
20)Optimistic decision makers tend to
answer is : option D(A+B)
21)
In decision theory, we call the payoffs resulting from each possible combination of alternatives and outcomes
answer is :conditional values
22)A rational decision maker must choose between two alternatives. Alternative 1 has a higher EMV than Alternative 2, but the decision maker chooses Alternative 2. What might explain why this occurs?
answer is: Alternative 2 may have a higher expected utility
23) answer :risk seeker
24)Which of the following is not considered one of the components of a time series?
answer is variance option C
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