The critical path a. is any path that goes from the starting node to the complet

Question

The critical path a. is any path that goes from the starting node to the completion node. b. is a combination of all paths. c. is the shortest path. d. is the longest path. Making a good decision a. requires probabilities for all states of nature. b. requires a clear understanding of decision alternatives, states of nature, and payoffs. c. implies that a desirable outcome will occur. d. All of the alternatives are true. Gradual shifting of a time series to relatively higher or lower values over a long period of time is called a. periodicity. b. cycles. c. seasonality. d. trend. Decision alternatives a. should be identified before decision criteria are established. b. are limited to quantitative solutions c. are evaluated as a part of the problem definition stage. d. are best generated by brain-storming. 20. Which of the methods for decision making best protects the decision maker from undesirable results? a. the optimistic approach b. the conservative approach c. minimum regret d. minimax regret

Explanation / Answer

16) c. is the shortest path: Critical path is the path which takes minimum time

17) b. Other 2 options are incomplete.

18) d. Trend: definition

19) d. are best generated by brain storming

20) b. conservative approach

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