Number of defective cars by Maruti = 25000×5% = 1250 Number of defective cars by Honda = 30000×10% = 3000 Number of defective cars by Hyundai = 35000×12% = 4200 Number of defective cars by Ford = 40000×15% = 6000 Number of defective cars by Mercedes = 30000×5% = 1500 So the least number of defective cars are manufactured by Maruti .
What type of bias relies too heavily on one piece of information in making a final decision?
Decision making process first requires identification of problem. Which of the following types of problems can be considered here?
Which of the following will not be a part of decision making process?
The bounded rationality model can be used in the following situations except when __________
How can collaboration with diverse teams enhance the identification of possible solutions?
Which of the following style of decision-making focuses on long term?
Rational decision making is a multi-step process starting with defining the problem. What is the next step in this process?
What is the role of data and information in the selection of the best solution?
How does brainstorming contribute to identifying possible solutions?
When the decision maker chooses the optimal solution to a problem that maximises the outcome, after careful analysis, it is known as ________
