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Explain the concept of risk analysis

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Question: Explain the concept of risk analysis and how Monte Carlo simulation can provide useful information for making decisions. Which is better; group decision or Individual decision? Justify your answer? What is the representativeness heuristic referring to and how is it applied in the working arena? Discuss Us using examples three effects of emotions on decision making. What are the challenges and pitfalls?

Reference no: EM133344667

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