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ECO314

Question: Which of the following is NOT an advantage of project management?
Answer:  Provide uncommon approach to project management

Question: Given the formular (Rb = î± (maxim Rowb) + (1- î±) (min Rowb) where î± = 0.5, maxim Rowb = 700 and min Rowb = -60. calculate CRbc
Answer:  320

Question: Given the formular (Rb = î± (maxim Rowb) + (1- î±) (min Rowb) where î± = 0.5, maxim Rowb = 500 and min Rowb = 500. Calculate CRbc
Answer:  212.5

Question: When does decision theory proves useful?
Answer: When it comes to issues of risk and uncertainty

Question: Who is the decision maker?
Answer:  The person or group of persons making the decision.

Question: What are the environmental factors?
Answer:  These are also called states of nature.

Question: Which approach is most appropriate in order to achieve profit maximization?
Answer:  The Expected Monetary Value (EMV)

Question: What is value system?
Answer: vThis is the particular preference structure of the decision maker.

Question: The criterion (m+n-1 ) of number of occupied cells must be satisfied to avoid
Answer: degeneracy

Question: Decision theory approach generally involves four steps. Gupta and Hira, (2012) present the following steps EXCEPT
Answer:  Select minimum decision criterion



Email: bbcnoun@gmail.com
Whatsapp: 08131667008