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The transportation model is an example of decision making under certainty since the costs of each shipping route, the demand at each destination, and the supply at each source are all assumed to be known with certainty.

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What is the decision making under certainty condition?

decition making under certainty


Distinguish between decision making under certainty and decision making uncertaintyMantion certain models for solving decision problem under uncertainty?

when you know all information about alternatives and the best chosen one is certainty when you donot know all information is uncertainty


How do you compare certainty decision making and uncertainty decision making?

Certainty decision making involves scenarios where the outcomes of choices are known and predictable, allowing for clear, rational decisions based on available information. In contrast, uncertainty decision making deals with situations where outcomes are unknown or unpredictable, requiring individuals to rely on intuition, risk assessment, and probabilistic thinking. While certainty allows for straightforward analysis and planning, uncertainty necessitates flexibility and adaptability in decision-making strategies. Ultimately, the context and available information dictate the approach taken in each scenario.


How would one compare certainty decision making and uncertainty decision making?

I am not so sure how you would compare certainty decision making and uncertainty decision making, but there is a great site that focuses on interactive, critcial thinking dialogue offering practical insights and effective tools for findind the cause of problems, creating innovative solutions, making decisions, and anticipating problems before they happen. Visit http://blog.actionm.com/ for more information.


How does a risk-averse individual's indifference curve reflect their preference for certainty over uncertainty in decision-making?

A risk-averse individual's indifference curve shows that they prefer certainty over uncertainty in decision-making. This is because the curve will be steeper, indicating that they require a higher level of certainty to compensate for taking on any level of risk.


What is an example of decision making in college?

choosing classes--- Apex


Contrast the three decision making conditions?

The three decision-making conditions are certainty, risk, and uncertainty. In a condition of certainty, the decision-maker has complete information and can predict outcomes accurately. In a risk condition, the decision-maker has some information and can estimate probabilities of different outcomes, allowing for informed choices. In uncertainty, the decision-maker lacks sufficient information about possible outcomes, making it difficult to evaluate options effectively, often leading to reliance on intuition or heuristics.


What are the example for tactical decision?

examples of tactical decision-making


What is an example of self-confidence?

Making a decision


What is example of self confidence?

Making a decision


What are examples of economic decision making?

Whenever someone shops they are making economic decisions. Determining how much you can comfortably afford for a house or a car is an example of economic decision making. Waiting to buy something until it goes on sale is also an example of this type of decision making.


What is meant by decision-making?

What is meant by decision making is someone making a choice. Options are given that pertain to a certain situation and a decision or choice is made. An example would be the decision to make chicken or meatloaf for dinner.