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What are the roles of operational research and business decision making?
Operational research allows business leaders to have more technical knowledge. With more research about operations, managers can choose the best alternatives presented to them. The key thing in this equation is that good operational research helps better business decisions. Often times the business decision often opted for is to spend more money on research.
What is the role of probability for making inferences in business research?
Examine the role of probability for making inferences in business research.
How is management mathematics used in business decision making?
In order for one to know how to handle the business.
What information can statistics provide that may be helpful for business decision making?
it can provide passed business running data
Decision making theory?
Decision making theory is used to determine the values and other issues, including uncertainties, that relate to the decision being made. It is then determined if the decision is a rational and wise decision to be made.
