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What are the importance of quantitative methods in decision making?
what are the importance of quantitative techniques in managerial dicision making
What is the importance of decision theory?
Decision theory, the modeling and study of man's decision-making, is arguably most important because in learning how we make decisions, we can learn to make better ones. A link is provided to the Wikipedia article on decision theory, which, by the way, is subject of discreet mathematics. The curious person would surf on over and at least skim the article.
What does evaluated means?
To evaluate something is to weigh or to judge it, so "evaluated" would mean "weighed" or "judged." To evaluate a plan, for example, would mean to weigh all of the plans steps and decide if the plan was worth putting into action.
Which is the result when the benefits of a decision are greater than the opportunity cost of that decision?
It would be helpful to know what the decision is to know what the benefits and opportunity of the decision are. It is important to include this information.
How would you evaluate 12 plus -3?
9
