What type of decision is long-term and affects the entire business?

• Operational decisions

• Tactical decisions

• Strategic decisions

• Routine decisions

Which decision-making approach involves the use of facts and data?

• Scientific decision-making

• Intuitive decision-making

• Emotional decision-making

• Random decision-making

What is a key component of a decision tree?

• Square decision nodes

• Triangular decision nodes

• Hexagonal decision nodes

• Pentagonal decision nodes

Which type of decision is typically made by middle management?

• Routine decisions

• Operational decisions

• Tactical decisions

• Strategic decisions

What is the main advantage of using decision trees?

• They eliminate all risks

• They provide a framework to quantify outcomes

• They guarantee success

• They simplify complex decisions

What is the purpose of critical path analysis?

• To increase project costs

• To eliminate all project risks

• To plan and control large projects

• To identify the shortest path in a network

Which of the following is a limitation of decision trees?

• They use probabilities which may be inaccurate

• They are too complex to understand

• They require no data

• They are only useful for small businesses

What does CPA stand for in decision-making models?

• Creative Path Analysis

• Complex Path Analysis

• Critical Path Analysis

• Cost Path Analysis

Which decision-making model includes external costs and benefits?

• Cost benefit analysis

• Intuitive decision-making

• Critical path analysis

• Decision trees

What is a benefit of using critical path analysis?

• It ensures all tasks are completed on time

• It guarantees project success

• It identifies critical activities

• It eliminates the need for management