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Making a Business Decision Under Uncertainty
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This 4 page paper considers the way businesses may make decisions under conditions of uncertainty. The paper considers the case of a shop that sells ice cream; a product that is highly sensitive to weather conditions as well as the size and accessibility of the local target market. The paper presents the way in which the shop owner may use existing knowledge, and gather data from third parties in order to assess the best potential order. The methods of assessment, including full cost of improbability, are demonstrated in the paper. The bibliography cites 3 sources.
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Pages:
4
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Filename:TS14_TEdecuncert.rtf |
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Paper Title:
Making a Business Decision Under Uncertainty
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