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Which of the following is one of the four assumptions underlying the classical model of decision making? The decision maker assigns probability values among alternatives
Which of the following is one of the four assumptions underlying the classical model of decision making? The decision maker assigns probability values among alternatives based on levels of uncertainty and makes the decision that minimizes risk to the organization. Although problems are not precisely formulated or defined, the decision maker operates to accomplish goals that are known. The decision maker strives for conditions of certainty and tries to gather complete information. All alternatives and the potential results of each are calculated. Criteria for evaluating alternatives are unknown, and the decision maker must select the alternative that will maximize the economic return to the organization.
Which of the following is one of the four assumptions underlying the classical model of decision making?
The decision maker assigns probability values among alternatives based on levels of uncertainty and makes the decision that minimizes risk to the organization.
Although problems are not precisely formulated or defined, the decision maker operates to accomplish goals that are known.
The decision maker strives for conditions of certainty and tries to gather complete information. All alternatives and the potential results of each are calculated.
Criteria for evaluating alternatives are unknown, and the decision maker must select the alternative that will maximize the economic return to the organization.
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