Elements of a decision-theory-alternatives

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1. What are the elements of a decision? How does statistical decision theory differ in conditions of certainty and uncertainty? When making a decision, can doing nothing be a valid alternative? Why?

2. What skills do managers need today? Are these skills different from management skills of 50 years ago? Why?

3. In management, how important is it that you learn to use mathematics to solve problems? How valuable is an MBA degree without the ability to identify the cost of a company's capital, its return on investment, gross margin percentage, break-even point, or which percent of a population would be willing to buy its product?

Reference no: EM13114927

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