When Will a Company Use a Predictive Decision Model

question 21

Multiple Choice

When will a company use a predictive decision model?

• A) when it wishes to determine the best product pricing to maximize revenue
• B) when it wishes to know how best to use advertising strategies to influence sales
• C) when it wishes to know sales patterns to plan inventory levels
• D) when it wishes to ensure that a specified level of customer service is achieved

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Definitions:

21St Century

The period from January 1, 2001, to December 31, 2100, marking the current century in the Gregorian calendar.

Resistance To Change

The reluctance or opposition by individuals or groups within an organization to alter established habits, practices, or processes.

Planned Change

A deliberate effort to improve an organization's operations, structures, or processes through systematic interventions.

Better Fit

A situation or solution that more appropriately or suitably matches the requirements or needs compared to other options.