Question

1) Decision theory & decision-making are the same thing. True False 2) ARROW'S THEOREM states that...

1) Decision theory & decision-making are the same thing.

True

False

2) ARROW'S THEOREM states that all voting systems are fair and equitable.

True
False

3)

The range of possible choices in a decision problem.

Alternatives
Criteria
Acceptance
Information

4)

The rating of a decision

Decision Quality
Value
Preferences

Criteria

5)

Decisions are sometimes made in context with other decisions.

True
False

6)

Which is an example of a DECISION WHETHER

I would really like to recruit a new programmer for my startup, but I need to determine if I can afford it first.
I’ve already determined that I’d like to hire a programmer, but I need applicants to apply.
I’ve received several applications for the programming job at my startup. The most relevant applicant lives in California.
None of These

7)

Which is an example of a DECISION WHICH

I would really like to go to law school someday, but I need to determine if I can pay for it first.
I’ve already determined that I’d like to be an IP lawyer, but I need to get accepted to law school.
I’ve received scholarships from 5 prestigious law schools across the nation. My most generous offer is close to home.
None of These

8)

Which of the following is an example of a CONTINGENT DECISION?

I would really like to recruit a new programmer for my startup, but I need to determine if I can afford it first.
I’ve already determined that I’d like to hire a programmer, but I need applicants to apply.
I’ve received several applications for the programming job at my startup. The most relevant applicant lives in California.
None of These

9)

A pessimist would likely operate under the MAXIMAX decision strategy.

True
False

10)

An optimist would likely operate under the MAXIMIN decision strategy.

True
False
0 0
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Answer #1
1)  False
2)  False
3)  Alternatives
4)  Decision Quality

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