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Numerical Analysis9th EditionJ. Douglas Faires, Richard L. Burden 873 solutions What is the administrative model of decision making?The administrative model of decision-making is founded on the belief that decision-makers are constrained by limited motivation and lack of time. As a result, they end up settling on less ideal solutions. Also referred to as the bounded rationality model, the approach assumes that people are not 100% rational.
What are the characteristics of administrative decision making model?The administrative model of decision making assumes that decision makers' rationality is bounded and that they're willing to consider only a limited number of criteria and alternatives before making decisions. As a consequence, they settle for the first 'good enough' solution that they find.
Which of the following statement about decisionmaking is true?Decision-making is the process of choosing from various alternatives to solve a given problem. Hence statement 2nd is correct. Decision-making is an important part of any organization.
Which of the following statements could be defined as decision making?Decision making is the process of selecting the best options from all the other alternatives which are being provided. Was this answer helpful?
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Which of the following statements is true about the administrative model of decision making?
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