Question: Class--the stuff learned in this class can be useful when making an optimal choice. A business goal is to identify the best decision alternative. The
Class--the stuff learned in this class can be useful when making an optimal choice. A business goal is to identify the best decision alternative. The decision analysis involving mathematical data analysis enables a decision maker to decide which alternative is optimal for a particular set of conditions. For example, an investor in two common stocks wants to know which portfolio gives the maximum return on the investment or which portfolio has a higher risk of losing the investment. A vendor introducing a new product line over the existing one wants to know if the new product will be acceptable by its customers. A grocery manager wants to know if (and how many units of) a perishable item like milk should be stocked when the future demand is unknown. One who has good number crunching skills is very valuable to any organization
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