Let CP = Rs. x Profit = Rs. y Therefore, x + y = SP => x + y = 1518 ----- (i) When SP = Rs. 1116, the loss = Rs. y Therefore, x – y = 1116 ------- (ii) Solving both the equation, we get => 2x = 2634 => x = Rs. 1317
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.
