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DECISION ANALYSIS (HSM-MJNB1W12-S1FIN24_4A-K)

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 are constant values that are generally coefficients of the symbols in an equation.

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Matching

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The is a linear mathematical relationship that describes the objective of the firm in terms of the decision variables.

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is a model that consists of linear relationships representing a firm’s decision(s), given an objective and resource constraints.

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is a linear relationship that represents a restriction on decision making.

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In AHP, the decision maker determines how well each alternative “scores” on a criterion by using , i.e.  two alternatives are compared according to a criterion, and one is preferred.

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A management science can be either a recommended decision or information that helps a manager make a decision.

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The  is a method for ranking decision alternatives and selecting the best one when the decision maker has multiple objectives, or criteria, on which to base the decision

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A decision-making situation includes several components—the decisions themselves and the actual events that may occur in the future, known as . At the time a decision is made, the decision maker is uncertain which states of nature will occur in the future and has no control over them

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A is a person skilled in the application of management science techniques

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