MN-2549: Decision analysis 2021
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MN-2549: Decision analysis
MAY/JUNE 2021
Answer TWO Questions ONLY
Question 1
Critically analyse the dangers of GroupThink in decision making. You can, for instance, illustrate your answer through the example of the Abilene Paradox and how to prevent it. [50 marks]
Question 2
a) Explain how the use of decision trees can help find out the best option to develop a new product. You can draw your own schematics. [25 marks]
b) Critically analyse the benefits and drawbacks of using decision trees. [25 marks]
Question 3
Explain how Artificial Intelligence and Machine learning Is simplifying business Decision- Making. You can, for instance, illustrate your answer through the examples in the field of marketing automation. [50 marks]
Question 4
Explain and discuss how our decision-making ability can be fooled . You can, for instance, illustrate your answer through various examples of cognitive and personal biases [50 marks]
2023-06-10