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What are the strengths and weaknesses of the expected value approach to decision making?
Wiki User
∙ 10y ago
•May be more concerned
about what is worst that can
happen
•How closely does range
cluster about the mean?
•Need to look at
standard deviation
and coefficient of variation.
•If investment is repeated
ENPV
gives the average outcome
•If investment occurs once
most likely outcome has
highest probability
Wiki User
∙ 10y ago
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What are the strengths and weaknesses of globalization?
Strength: Unity and better prospects for the future. Weakness: Difference of opinions from each member country, therefore splitting up of ideas, and not holding up a universal concept which everybody can agree on, which can lead to far worse results than expected.
Limitation of expected value in decision making?
Expected value of a random variable requires that the random variable can be repeated in experiment indefinitely. If the random variable can only be repeated finite times, e.g. once, there is an inadequacy of the expected value principle for a decision maker.
Fair weather can usually be expected wit the approach of?
A High Pressure system.
Fair weather can usually be expected with the approach of?
A high pressure system or an anticyclone.
What is a normative approach?
A theory in which certain applications are applied that best fit the expected norms of society.
What feedback might a teaching assistant be expected to provide and in what form and to who?
Feedback as an assistant would be aimed at The subject teacher in the form of written and oral formats. Its content would normally be about the students in their care and how the are progressing, issues being found in their development skill and generic personal information about the student. To the parents of the pupil (as stated above) To the student - On their progression and strengths and weaknesses
How were the British and French different in their colonial approach?
France expected colonies would always be apart of France.
Why were colonists angered by King George III's approach to governing them?
The colonists expected to be free from England after the French and Indian War
Why were colonists angered by king George approach to governing them?
The colonists expected to be free from England after the French and Indian War
Commly asked questions employer may ask?
Mostly just common sense usually, why you left last job, salary expected, why you want to work there experience or special skills, very few go farther unless they want to feel you out then they might ask about your greatest strengths or weaknesses or other personal q/s
What type of decision that can made by following a definite procedure?
If a tried, tested and definite procedure is carefully followed, the decision finally reached, would be expected to be the correct one.
What is likely to be the best approach to a recession that is expected to turn into an expansion in a short time?
do nothing and let the economy fix itself
