An Optimal Decision Is One That Chooses

question 49

Multiple Choice

An optimal decision is one that chooses

• A)the most desirable alternative among the possibilities permitted by the resources available.
• B)the lowest cost method of meeting goals, without regard to quality or any other feature.
• C)among various possible goals and offends no one, so that all are equally happy.
• D)among equally important goals, and thereby avoids the "indispensable necessity" syndrome.
• E)among possible goals in such a way that spends as little money as possible.

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Definitions:

Confidence Interval

A spectrum of numerical figures, originating from sample-derived statistics, expected to capture the value of an unascertained population parameter.

TV Households

Households with at least one operable television set, used as a demographic metric in media and advertising research.

NBA Championship

The annual championship series of the National Basketball Association, determining the league's champion through a series of playoff games.

Confidence Interval

An estimated range of values, calculated from sample statistics, that is likely to contain the value of an unknown population parameter.