Match Each of the Following Situations with the Concept It

question 4

Essay

Match each of the following situations with the concept it most clearly illustrates.
a.Hugh needs to buy a new laptop.He searches online until he finds the first laptop that fits his price and performance needs, and then he immediately buys it.
b.In a hand of poker, Kevin makes a bid and Thandeka calls.Later, Kevin makes a higher bid, and Thandeka calls again.At the end of the hand, when Thandeka goes all in, Kevin is almost certain she has the better cards.However, because he has already invested so much in the hand, Kevin feels obliged to call.
c.On paper, the candidate seems excellent, so Nina invites him for an interview, which goes swimmingly.Still, something about the guy seems 'off' to Nina, and though she can't put her finger on what it is, she hires someone else.
d.Unathi knows that the laptop she is about to buy from the electronics store is both more expensive and of lower quality than a laptop she could buy online.However, she desperately needs a laptop immediately, so she goes ahead with the purchase.
-suboptimising

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Definitions:

Improvement Index

An indicator or metric used to quantify the level of improvement in a process, product, or service over time.

Stepping-Stone Method

An iterative technique for moving from an initial feasible solution to an optimal solution in the transportation method.

Fixed Costs

Expenses that do not change with the level of production or sales over a certain period, such as rent, salaries, and insurance.

Transportation Model

A type of optimization model used in logistics that determines the most efficient way to distribute goods from several suppliers to multiple destinations.