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Discuss How the Concepts of Satisficing, Maximizing, and Optimizing Are

question 43

Essay

Discuss how the concepts of satisficing, maximizing, and optimizing are used in making a decision.


Definitions:

Lexical Analysis

The process of converting a sequence of characters into a sequence of tokens, often a preliminary step in the compilation or interpretation of programming languages.

Transformation

A thorough or dramatic change in form, appearance, or character.

Arrangement

The act or process of organizing or ordering items, substances, or elements according to a specific pattern or sequence.

Functional Fixedness

A cognitive bias that limits a person’s ability to use an object only in the way it is traditionally used.

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