Question
In a 600 ml solution, the ratio of milk to water is 3:2.
After adding ‘x’ ml each of milk and water, the ratio becomes 7:5. Determine the value of ‘x’.Solution
ATQ,
Milk = (3/5) × 600 = 360 ml
Water = 600 – 360 = 240 ml
ATQ:
(360 + x)/(240 + x) = 7/5
⇒ 5(360 + x) = 7(240 + x)
⇒ 1800 + 5x = 1680 + 7x
⇒ 2x = 120
⇒ x = 60
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What type of bias relies too heavily on one piece of information in making a final decision?
Which of the following best describes a decision tree?
Which of the following is a common bias that can affect managerial decision-making?
In which decision-making technique do experts provide their opinions anonymously to avoid bias, and a consensus is reached after several rounds?
Decision Matrix is a type of __________ technique of decision making.
Which of the following is not a feature of a strategic decision?
As per Herbet Simon’s bounded rationality theory, the decision made is ______ in nature.
Why is it important to communicate the decision to relevant stakeholders?
A decision taken in response to a problem that has already taken place, is known as _____________