Multiple conflicting objectives

Assignment Help Basic Statistics

Reference no: EM13968498

1. Why is it important to think carefully about decision situations that involve multiple conflicting objectives?

2. Explain the general decision-analysis approach to dealing with multiple objectives.

3. Explain what is meant by the term indifference curve.

4. Explain the idea of dominance in the context of multiobjective decision making.

5. Imagine that you are working on a committee to develop an employment-conditions pol icy for your firm. During the discussion of safety, one committee member states that em ployee safety is twice as important as benefits such as flexible work time, employer- sponsored day care, and so on.

a. How might you respond to such a statement?

b. Suppose the statement was that employee safety was twice as important as insurance benefits. How might you translate this statement into a form (perhaps based on dollar values) so that it would be possible to evaluate various policy alternatives in terms of safety and insurance in a way that would be consistent with the statement?

Reference no: EM13968498

Questions Cloud

How do caldwell et al. describe ethical stewardship : Incorporate appropriate animations, transitions, and graphics as well as "speaker notes" for each slide. The speaker notes may be comprised of brief paragraphs or bulleted lists.

Proportional scores represent a risk attitude : 1. Explain why proportional scores represent a risk attitude that is risk-neutral. 2. An MBA student evaluating weather outcomes for an upcoming party has concluded that a sunny day would be twice as good as a cloudy day, and a cloudy day would be ..

Briefly summarize its responsibilities related to inspection : The Public Accounting Oversight Board (PCAOB) was created as a result of the Sarbanes-Oxley Act. It has oversight and enforcement responsibilities over accounting firms in the United States. What is the mission on the PCAOB?

Paper - stress management with healthy life styles : Stress management with healthy life-styles - 2 page paper. The popular media have reported a great deal of information linking stress management with healthy life-styles. Provide three (3) examples of this linkage in a 1-paragraph description

Multiple conflicting objectives : 1. Why is it important to think carefully about decision situations that involve multiple conflicting objectives? 2. Explain the general decision-analysis approach to dealing with multiple objectives.

Explain the government''s cautions about intervention. : Create a fictitious name for your company, or use an actual company for the purposes of this and other assignments in this course. At the onset of this assignment, specify your new place of employment.

Implications for settlements in real-world court cases : Discuss your answers to parts a and b. What are the implications for settlements in real-world court cases? What would happen if the defendants expected value were less than the plaintiffs?

Description of the patient condition : A description of the patient's condition, including their capacity to make informed decisions. The arguments and position taken by the medical staff

Well-developed feelings about homework : Being a student, you probably have well-developed feelings about homework. Given the same amount of material learned, the less the better, right? (I thought so!) Define home work as the number of hours spent outside of class on various assignments..

User Account

All Pages