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uncertainty in DM

This topic has 1 reply, 2 voices, and was last updated 4 years ago by John Moffat.

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September 11, 2020 at 8:33 am #584931
Noah098
Member
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which 2 of the following can be used to reduce uncertainty in decision making?
a-EV analysis
b-market research
c-focus groups
d-relevant costing
sir the answer is B and C but i was wondering why not ‘A’ too?
thanks!
September 11, 2020 at 11:59 am #584970
John Moffat
Keymaster
- Topics: 57
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Expected values give a basis for a decision but does not make the actual outcome any less uncertain – the actual outcome will obviously not be the the expected value.
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