Compound interest earned = 7000 × {1 + (10/100)}2 – 7000 = 8470– 7000 = Rs. 1470 So, selling price of the article = 1470 × 1.22 = Rs. 1793.4
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.
