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Essay

Decision making

Essay specific features

 

Issue:

Miscellaneous

 

Written by:

Steve V

 

Date added:

July 30, 2015

 

Level:

University

 

Grade:

A

 

No of pages / words:

4 / 1032

 

Was viewed:

2103 times

 

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Essay content:

Without a little uncertainty, life is boring. All decision models are either "absolute" or "relative". In an absolute model, there is some formula that specifies the relationship between variables. It is the manager's job to specify the values of the variables and be able to interpret the output of the formula...
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Someone has already figured out the gist of the problem and told you how to find the answer. Unless the inputs are particularly hard to determine, this can get to be very dull very quickly. But the underlying assumption here is that the relationship between the variables is simple enough to be specified...
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General issues of this essay:
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