17 Students' Performance 100 90 30 70 Score 60 50 20 Series 30 20 40 65 50 55 50 Completion Time / mins 65 70 75 The scatterplot above represents students' performance versus their completion times on a term project for a strategic management course, What relationship can you determine from the graph? Positive linear trend Positive non-linear trend Negative linear trend Negative non-linear trend 18 A manufacturing corporation has signed a five-year contract with a metal corporation, which will supply a major component for manufacturing an electrical circular saw. It is expected that the metal corporation will deliver 1,000 units per mont Which step of the decision model did the manufacturing corporation complete? Identifying the problem Implementing the decision Choosing the best alternative Evaluating the decision NEXT > BOOKMARK CLEAR 19 A pizza restaurant would like to add fresh ingredients which are available during the summer to its menu. Only three items may be added, which is a first-time offer to patrons. There are five menu items under consideration: spinach salad, cucumber cocktail, stuffed olives, steamed broccoli, and fried eggplant. Because these are new menu items, customer demand cannot be determined. How does risk influence the decision-making process in this scenario? The uncertainty does not allow for a supported decision-making process. Both risk and uncertainty are needed to perform the decision-making process The risk wil assessed and the decision-making process supported. The risk makes the decision-making process more difficult NEXT BOOKMARK CLEAR TIME LEFT: 01:43:24 A successful Mexican seafood restaurant in Texas has a single owner and a single location. The owner is debating the next step for the business. The owner thinks that opening only a couple of new locations in the area could help maintain the customers' perception of a unique local restaurant, which has been part of its success. On the other hand, franchising the restaurant could drive rapid economic growth and therefore develop an image as a regional restaurant. It is also possible that a combination of new local locations and franchising could bring better financial and public relations results. This option has the highest associated cost, whereas opening only a couple of new locations or franchising would cost less. In any case, the owner believes the worst case scenario is to have moderate demand and the best-case scenario is to have high demand. What are the states of nature in the owner's decision? Economic growth and local and regional customers' perception Local and regional customers perception Opening a couple of locations, franchising, and both High demand and moderate demand NEXT > BOOKMARK CLEAR