Identify, in order, the six steps of analytical decision making
What will be an ideal response?
1. Clearly define the problem and factors that influence it.
2. Develop specific and measurable objectives.
3. Develop a model—that is, a relationship between objectives and variables (which are measurable quantities).
4. Evaluate each alternative solution based on its merits and drawbacks.
5. Select the best alternative.
6. Implement the decision and set a timetable for completion.
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When trying to persuade others, you should always keep your argument simple
a. True b. False
George lends $200,000 for each new idea. George's history is that he selects low-risk projects or ideas that hit 80% of the time. What rate of return must each successful project pay George for him to break even?
A) 20.50% B) 22.00% C) 23.50% D) 25.00%