Dante Has Two Possible Routes to Travel on a Business

question 97

Multiple Choice

Dante has two possible routes to travel on a business trip. One is more direct but more exhausting, taking one day but with a probability of business success of 1/4. The second takes three days, but has a probability of success of 2/3. If the value of Dante's time is $1000/day, the value of the business success is $12,000, and Dante is risk neutral,

• A) it doesn't matter which path he takes, because he doesn't consider risk.
• B) he should take the 1-day trip, because he doesn't consider risk.
• C) he should take the 1-day trip, because $11,000 is greater than $9,000.
• D) he should take the 3-day trip, because it will increase his expected net revenue by $3,000.
• E) he should take the 3-day trip, because it will increase his expected net revenue by $5,000.

Comprehend the evolution of societal control mechanisms from pre-industrial to modern societies.

Identify the relationship between sociological theories and contemporary social issues.

Recognize the contributions of key sociologists to the development of sociological thought.

Examine the role of religion and ethics in societal development.

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Definitions:

Product

Anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need.

Strategic Planning Process

A systematic sequence of actions that organizations use to envision their future and develop necessary procedures and operations to achieve that future.

Marketing Program

A comprehensive plan that integrates various marketing efforts such as advertising, sales, and public relations to achieve business objectives.

Planning Stage

The initial phase in a process where objectives are set and strategies are outlined.