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Steps making DecisionTree
A decision tree is a graphical representation of decision process indicating decision alternatives, states of nature, related probabilities and conditional pay-offs for each combination of decision alternatives and states of nature. It shows all the possible choices that can be made as branches on the tree. And all the probable outputs for each selection as subsidiary branches on the tree.
Steps followed in making the tree are:
• State the problem or recognize the objectives• Identify the possible causes of action, (i.e., decision alternative)• Recognize the possible states of nature/situations• Calculate approximately the probabilities for each state of nature• Estimate the restricted pay-off for each alternative and states of nature• Draw the decision treeCompute the predictable monetary value at each state of nature node using the roll back method.
Why might managers favour this ABC system instead of the older system that allocated all MOH costs on the basis of direct? labour?
Do you think the food industry in general has equivocated on food labeling? Are all foods labeled natural in the same way? Has modern society subverted the concept of nature?
INVENTORY CONTROL The activities of a business during a financial year combine investment projects in progress with new projects commencing and others terminate within the year
Budget Preparation The organization's budget is ready following the acceptance and sanction of the decision packages. Once the budget of organization has been accepted manager
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Q. Explain Phases of life cycle of a product? Every product move through a life cycle having five phases as shown in figure and they are 1) Pricing during introduction 2)
underlying assumptions of breakeven analysis and the limitations of this.
full explaination with diagram
opening stock 19000 closing stock 21000 sales 200000 gross profit 25% on sales calculate stock turnover ratio
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