Let investment of Vicky is Rs.8x. So, investment of Palash = Rs.24x Required ratio = (24x x 3 + 12x x 3 + 6x x 6) : 8x x 12 => (72x + 36x + 36x) : 96x => 144x : 96x => 3:2
What is the risk of choosing a solution solely based on personal preferences?
Which of the following is NOT one of the biases in decision making?
Which of the following is a decision-making model that focuses on using intuition and past experience?
As per bounded rationality, the decision making is limited by certain factors like cognitive limitations. Cognitive limitations refer to _____
How does a cost-benefit analysis contribute to selecting the best solution?
Which type of decision is made in a situation that is new, complex, and has no established guidelines?
The synectics technique of problem solving that focuses on innovative and creative ideas to arrive at a consensus solution, was given by _____
What can be a consequence of not eliminating other solutions before making a decision?
Strategic decisions are _______
_________ are concerned with the problems of repetitive nature or routine type matters.
