Executive Judgement Methods Produce Accurate Forecasts When

question 103

Multiple Choice

Executive judgement methods produce accurate forecasts when:

• A)forecasts are made infrequently.
• B)the environment is volatile
• C)the linkage between decision,action,and feedback is short.
• D)all of the above.
• E)(a)and (b)only.

---

Definitions:

Corner-point Method

A mathematical technique used in linear programming to find the optimum solution by evaluating the objective function at each corner point of the feasible region.

Dual Values

In linear programming, dual values represent the amount by which the objective function of an optimization model would improve with a one-unit increase in the right-hand side value of a constraint.

Objective Function

A mathematical expression that defines the goal of an optimization problem, e.g., to maximize profits or minimize costs.

Solved

A situation or problem that has been resolved, answered, or dealt with successfully.