Satisfactory rather than optimal decisions are:
A) rare
B) common
C) always unreliable
D) always irrational
E) always rational

Question

Quizplus · Accepted Answer

Optimal decisions are those that maximize the expected outcome given all available information and resources. However, in real-life situations, there are often constraints such as time, limited information or resources, and uncertainty. Therefore, it is more common for individuals and organizations to make satisfactory, or "good enough" decisions, rather than optimal decisions. These decisions may not be the best possible outcome, but they are sufficient to achieve the desired result under constraints.

Satisfactory Rather Than Optimal Decisions Are