Question
Quantity of milk is 33% more than that of water in 233
litres mixture (milk + water). If 27 litres milk is added, then find the quantity of milk in the resultant mixture now.Solution
Let the initial quantity of water be 'y' litres.
Initial quantity of milk = '1.33y' litres
So, y + 1.33y = 233
Or, 2.33y = 233
Or, 'y' = 100 litres
Initial quantity of milk = 1.33 × 100 = 133 litres
Therefore, final quantity of milk = 133 + 27 = 160 litres
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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 _____________