What is the main difference between High-Low Method and Regression Analysis?
A) They are the same
B) Regression Analysis is used in aggressive periods, but High-Low Method is used always
C) High-Low Method is based on 2 periods, but Regression analysis consider all data so Regression analysis is more trustable
D) High-Low Method is based on high costs, but Regression analysis considers all costs
E) Regression Analysis is based on 2 periods, but High-Low Method considers all data
15. Under which decision-making condition is the decision maker unaware of all the alternatives and the risks and consequences associated with each alternative? a. Probability b. Risk c. Certainty d. Rationality e. Uncertainty 16. When the manager understands the available options but the probabilities associated with each option are uncertain, the manager is experiencing a. decision making under risk. b. satisficing. c. bounded rationality. d. decision making under certainty. e, decision making under uncertainty, 17. Decisions that are routine and deal with situations in which the factors are familiar and have occurred in the past are called decisions. a. nonprogrammed b. satisficing C. rational d. programmed e. noninnovative 18. A(n) group is the most common form of a decision-making group. a. interacting b. Delphi c. nominal d. unilateral e. task 19. _ is the act of choosing one alternative from many. a. Decision making b. Problem solving c. Risk assessment d. Programmed decision making c. Certainty evaluation1. The basic difference between macroeconomics and microeconomics is: A. microeconomics explores the causes of inflation while macroeconomics focuses on the causes of unemployment. B. microeconomics concentrates on the behaviour of individual consumers and firms while macroeconomics focuses on the performance of the entire economy. C. microeconomics concentrates on individual markets while macroeconomics focuses primarily on international trade. D. microeconomics concentrates on the behaviour of individual consumers while macroeconomics focuses on the behaviour of firms. 2. Scarcity exists because of: A. unlimited wants and limited resources. B. the allocation of goods by prices C. specialization and division of labor. D. the market mechanism. 3. Production in a society is allocation efficient so long as it uses its resources to produce as much as it can. True FalseIn a single channel automatic car wash, cars arrive following Poisson distribution at the rate of 20 per hour. It takes an average of 2 minutes to wash a car, and the service time follows exponential distribution. Find the following operating characteristics of the system (10 marks). a) What is the probability that 4 cars arrive within 10 minutes? b) What is the probability that no car arrives within 5 minutes? c) What is the probability that a car is washed in less than 1.5 minutes
