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Q1 Explain briefly the following tools Unanimity, Majority and Plurality Voting Autocratic decision making Affinity diagram Mind mapping Observation/ conversation Facilitation Context Diagram Prototype Question

Q1 Explain briefly the following tools

  1. Unanimity, Majority and Plurality Voting
  2. Autocratic decision making
  3. Affinity diagram
  4. Mind mapping
  5. Observation/ conversation
  6. Facilitation
  7. Context Diagram
  8. Prototype

Question 2:

An art dealer's client is willing to buy the painting Sunplant at $50,000. The dealer can buy the painting today for $40,000 or can wait a day and buy the painting tomorrow (if it has not been sold) for $30,000. The dealer may also wait another day and buy the painting (if it is still available) for $26,000. At the end of the third day, the painting will no longer be available for sale. Each day, there is a .60 probability that the painting will be sold. What strategy maximizes the dealer's expected profit?

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