21. Which of the following is one of the more commonly used and essential quantitative technique of decision-making?
a. Game Theory
b. Decision Tree
c. Payoff Matrix
d. Decision Tables
Answer: d. Decision Tree
22. The Herbert Simon Model does not go beyond the
a. Decision Phase
b. Design Phase
c. Choice Phase
d. Intelligence Phase
Answer: a. Decision Phase
23. What are advantages of Group Decision-making?
i] Least consideration of the problems and related issues
ii] Better group understanding of the problem and rationale for the decision
iii] Greater Group Commitment to the decision
iv] Improved communication to the implementers ensuring better implementation
a. i and ii
b. ii and iii
c. ii, iii and iv
d. All the above
Answer: c. ii, iii, and iv
24. Information helps decision making by minimizing the element of ________ and uncertainty.
Answer: b. Risk
25. Data warehouse is a central ________ of integrated data from multiple remote OLTP systems.