In the classical decision making model,"optimization" means
A)implementing two or more alternatives simultaneously.
B)choosing the alternative with the best overall expected outcomes.
C)gathering the most complete information before making the decision.
D)reaching a satisfactory level of performance.
E)None of these.

Question

Quizplus · Accepted Answer

Optimization in the classical decision making model refers to choosing the alternative that offers the best overall expected outcomes. It involves assessing all possible alternatives and selecting the one that results in the most desirable outcome. This process takes into consideration factors such as costs, benefits, risks, and uncertainties associated with each alternative. Thus, option B is the correct answer.

In the Classical Decision Making Model,"optimization" Means