A decision-making tool for supervisors that permits decision makers to place a monetary value on the various consequences likely to result from the selection of a particular course of action is called the ________.
A)objective strategy
B)expected value analysis
C)strategy formulation
D)probability of occurrence
E)intuitive approach

Question

Quizplus · Accepted Answer

Expected value analysis is a decision-making tool that involves placing a monetary value on the various consequences likely to result from the selection of a particular course of action. It helps decision makers to consider the potential outcomes, assign probabilities to those outcomes, and determine the expected value of each option. This information can then be used to identify the option that is most likely to yield the highest return on investment. Therefore, option B is the best choice in this case.

A Decision-Making Tool for Supervisors That Permits Decision Makers to Place