Questions on decision analysis course: Major Management
Question 3.1
Means objective is the objective that its importance is based on its contribution to accomplish another objective. For example, arriving from work early enables the individual to do other activities, hence achieving another objective. On the other hand, fundamental objective is the objective that provides an insight of the core motive for considering a decision. An example of fundamental on objective is when an individual makes another person happy.
Fundamental objectives are considered more important than the means objectives because only fundamental objectives are used to compare and evaluate options. Fundamental objectives help the individual to establish the specific goals that they are supposed to achieve. For instance, the fundamental objective of constructing hostels is to offer students the accommodations. However, the means objectives can be chosen over fundamental objectives because they helps the individual to create options. The fundamental objectives are considered as the main aim for engaging in an activity, hence can be termed as principle objectives of a particular task or activity.
Question 3.9
- A decision tree
- Influence diagram
- A decision tree involving weather forecast
Question 3.17
The fundamental objectives of the armature’s objectives in choosing the telescope are selecting the telescope that can maximize image clarity, maximize enjoyments of viewing sessions and maximize quality of astrophotography. The mean objectives include choosing a telescope that have a larger aperture to show a clear image, to spend more on the telescope so as to reduce the money spend on accessories. The other mean objective involve keeping the telescope skill to enhance stability and reduce vibration that affects the quality of the image. The mounting should be in a capacity to enhance easy and smooth movement of the telescope. Finally, considering the mounting of the telescope, the astronomer mean objectives are to select a telescope that can capture photographs of the sky. To achieve this, the mounting device must have tracking devices to enable the telescope remain at the same point, despite the rotation of the earth.
Works Cited
Elomaa, Tapio. Tools and Techniques for Decision Tree Learning. Helsinki, 1996. Print.
Goodwin, Paul. Decision Analysis for Management Judgment. New York: Wiley, 1999. Print.
Jones, T T. Business Economics and Managerial Decision Making. Chichester, Eng: J. Wiley, 2004. Print.
