MODULES Quantitative Module Decision-Making Tools A Module Outline THE DECISION PROCESS IN OPERATIONS FUNDAMENTALS OF DECISION MAKING DECISION TABLES TYPES OF DECISION-MAKING ENVIRONMENTS Decision Making Under Uncertainty Decision Making Under Risk Decision Making Under Certainty Expected Value of Perfect Information (EVPI) DECISION TREES A More Complex Decision Tree Using Decision Trees in Ethical Decision Making SUMMARY KEY TERMS USING SOFTWARE FOR DECISION MODELS SOLVED PROBLEMS INTERNET
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Decision-making models‚ or the path that one would choose in his or her decision-making‚ is heavily relied on the information one has received. By having all the correct information available‚ decision-making becomes an easier task. The model in which one would base his or her decision-making upon can be analyzed into six different factors: the problem at hand‚ the goals that want to be reached‚ alternatives‚ pros and cons‚ decision(s)‚ and reason(s) behind the decision(s). According to Richard
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CHC2D5-B Mrs. Veletic 25 January 2010 A Defining Moment in Canadian History: The Baby Boom Generation The Baby Boom generation‚ the largest demographic group in history (Kallen 28) was born from 1947 to 1966 in Canada after World War II‚ making up more than 30% of Canada’s current population. Born after the Great Depression of 1929 and World War II which occurred from 1939 to 1945‚ it is the largest post-war baby boom increase. A baby boom is any dramatic increase in the birth rate which usually
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The Truth of Global Warming SCI110 There are many myths and facts about global warming‚ but the same question is always asked‚ “Is global warming real or not?” Many more questions arise from asking if global warming is real or not like‚ “is it the human’s fault or is it just the natural course of the Earth?” There is much evidence that scientist had gather to prove that global warming is real; for example everyone is aware the Antarctic glacier’s melting causing the oceans to rise and causing
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Northern Mindanao is the eco-tourism hub of the Philippines. The region is composed of Bukidnon‚ Camiguin‚ Lanao Del Norte‚ Misamis Occidental‚ and Misamis Oriental. Bukidnon Bukidnon is a landlocked province‚ and is home to the Philippine Eagle. Most of its attractions are natural‚ such as the Kitanglad National Park‚ the waterfalls of Natigbasan‚ Gantungan and Dila‚ the springs of Luan-Luan and Matin-ao‚ and Napalit Lake. The Del Monte Pineapple Plantation in Bukidnon is one of the largest
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1. How do your nervous and endocrine systems work together as a physical response to stress? The two systems prepare your body by sending chemical messages and actions of sympathetic nerves that cause the release of key hormones. What is the difference between stress and a stressor? A stressor is the situation that triggers physical and emotional reactions. Stress is the general physical and emotional state that accompanies the stress response. How does the fight or flight reaction (in today’s
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Unit 10-LO1 1.1 Identify the main types of state and independent schools. The main types of state schools are: - Community schools - Fundation and Trust schools - Voluntary aided schools - Voluntary controlled school(www.gov) Other types of state schools are: - Community special schools and foundation special schools - Faith schools - Grammar schools - City Technology Colleges - Academies - Maintained boarding schools The main types of independent schools are: - High Schools (senior school for
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that will guide you in making ethical decisions. Remember to indicate the sources that you used in compiling the model. One have to admit that ethics cannot be compared to feelings but nonetheless our feelings does guide or influence our ethical choices. Ethical guidelines for every individual in the group will differ from member to member and the group has decided to adhere to all three the following principles in order to assist in making unified decisions when the same is required: 1.
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Chapter 10 Problems 1. How much interest would be earned (on a simple interest basis) from a three-day money market loan for $1 million at an interest rate of 12 percent (annual rate)? Suppose the loan were extended on the third day for an additional day at the going market rate of 11 percent. How much total interest income would the money-market lender receive? Interest owed at 12% for 3 days would be: $1‚000‚000 (.12) (3/360)=$1‚000. Additional interest owed for 1 more day: $1
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Contents INTRODUCTION 4 DECISION MAKING 4 Programmed Decisions 4 Non-Programmed Decisions 5 THE RESPONSIBILITY FOR MAKING DECISIONS 5 ELEMENTS OF THE DECISION SITUATION 6 - The Decision Maker 6 - Goals to be Served 6 - Relevant Alternatives 6 - Ordering of Alternatives 6 - Choice of Alternatives. 6 THE RATIONAL MODEL OF DECISION MAKING 8 Steps in the Decision Making process 8 Identifying an Existing Problem 9 Listing Alternative Solutions 10 Select the Most Beneficial Of These
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