Which of the Following Is a Formal Decision Model That

question 13

Multiple Choice

Which of the following is a formal decision model that uses techniques of regression analysis of past production decisions and is also based on managerial performance and experience?

• A)linear decision rule
• B)linear programming
• C)simulation
• D)management coefficients model

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Definitions:

Profit Motive

The incentive that drives individuals and businesses to improve their material well-being by seeking financial gains.

Discrimination Effect

The impact on consumer choice and market outcomes when products are differentiated, often based on perceived quality or branding, leading to variations in pricing.

Discrimination

Discrimination refers to unjust or prejudicial treatment of different categories of people, especially based on race, age, or sex.

Personal Characteristics

Attributes or features that define an individual, including traits, skills, and preferences.