BUSOBA 2321 MIDTERM CERTIFICATION
TEST 2026 QUESTIONS WITH ANSWERS
GRADED A+
⩥ 1. based on logic
2. considers all options available
3. considers all information available at the present time. Answer: What
are the 3 qualities of a good decision?
⩥ logic. Answer: Are good decisions based on logic or personal choice?
⩥ no. Answer: Does a bad decision consider all available options?
⩥ yes. Answer: Does a good decision consider all available options?
⩥ yes. Answer: Does a bad decision dismiss and not consider all
available options?
⩥ no. Answer: Does a good decision not consider all available options?
⩥ no. Answer: Is a bad decision based on logic?
,⩥ bad. Answer: Do the following qualities align with a good or bad
decision?
1. does not consider all options
2. does not consider all available information
3. pick and choose what to present in order to support an idea
4. bias
⩥ no. Answer: Is a good decision bias?
⩥ yes. Answer: Is a bad decision bias?
⩥ bad. Answer: We pick and choose what to present in order to support
an idea when we've made a _____ decision.
⩥ false. Answer: True or False:
We pick and choose what to present in order to support an idea when
we've made a good decision.
⩥ yes. Answer: Can a good decision result in a negative outcome?
⩥ yes. Answer: Can a bad decision result in a positive outcome?
,⩥ false. Answer: True or False:
A good decision can only result in a good outcome.
⩥ true. Answer: True or False:
A bad decision can result in both a good and bad outcome.
⩥ A good decision that has a favorable outcome because it is worse to
make a bad decision with a favorable outcome, as it will make you think
that you made the right decision and you will keep making it.. Answer:
Is it better to have a good decision that gives you an unfavorable
outcome or a bad decision that gives you a favorable outcome? Why?
⩥ 1. Define the problem
2. List all alternatives/options
3. Identify the outcomes for each alternative (States of Nature)
4. Identify the payoff for each combination of alternatives and outcomes
5. Pick a technique to apply to the decision model, then make a decision.
Answer: What are the 5 steps in decision analysis
⩥ 1. model will represent reality
2. provides clear recommendations
3. saves time and money
, 4. could be the only reasonable way to solve for a complex set of
equations. Answer: What are the 4 basic components of decision
modeling?
⩥ 1. formulate
2. solution
3. interpret. Answer: What are the 3 steps in decision modeling?
⩥ formuation. Answer: What step of decision modeling do the following
qualities apply to:
1. define the problem
2. develop the model
3. acquire data
⩥ solution. Answer: What step of decision modeling do the following
qualities apply to:
1. develop solution
2. test solution
⩥ interpret. Answer: What step of decision modeling do the following
qualities apply to:
TEST 2026 QUESTIONS WITH ANSWERS
GRADED A+
⩥ 1. based on logic
2. considers all options available
3. considers all information available at the present time. Answer: What
are the 3 qualities of a good decision?
⩥ logic. Answer: Are good decisions based on logic or personal choice?
⩥ no. Answer: Does a bad decision consider all available options?
⩥ yes. Answer: Does a good decision consider all available options?
⩥ yes. Answer: Does a bad decision dismiss and not consider all
available options?
⩥ no. Answer: Does a good decision not consider all available options?
⩥ no. Answer: Is a bad decision based on logic?
,⩥ bad. Answer: Do the following qualities align with a good or bad
decision?
1. does not consider all options
2. does not consider all available information
3. pick and choose what to present in order to support an idea
4. bias
⩥ no. Answer: Is a good decision bias?
⩥ yes. Answer: Is a bad decision bias?
⩥ bad. Answer: We pick and choose what to present in order to support
an idea when we've made a _____ decision.
⩥ false. Answer: True or False:
We pick and choose what to present in order to support an idea when
we've made a good decision.
⩥ yes. Answer: Can a good decision result in a negative outcome?
⩥ yes. Answer: Can a bad decision result in a positive outcome?
,⩥ false. Answer: True or False:
A good decision can only result in a good outcome.
⩥ true. Answer: True or False:
A bad decision can result in both a good and bad outcome.
⩥ A good decision that has a favorable outcome because it is worse to
make a bad decision with a favorable outcome, as it will make you think
that you made the right decision and you will keep making it.. Answer:
Is it better to have a good decision that gives you an unfavorable
outcome or a bad decision that gives you a favorable outcome? Why?
⩥ 1. Define the problem
2. List all alternatives/options
3. Identify the outcomes for each alternative (States of Nature)
4. Identify the payoff for each combination of alternatives and outcomes
5. Pick a technique to apply to the decision model, then make a decision.
Answer: What are the 5 steps in decision analysis
⩥ 1. model will represent reality
2. provides clear recommendations
3. saves time and money
, 4. could be the only reasonable way to solve for a complex set of
equations. Answer: What are the 4 basic components of decision
modeling?
⩥ 1. formulate
2. solution
3. interpret. Answer: What are the 3 steps in decision modeling?
⩥ formuation. Answer: What step of decision modeling do the following
qualities apply to:
1. define the problem
2. develop the model
3. acquire data
⩥ solution. Answer: What step of decision modeling do the following
qualities apply to:
1. develop solution
2. test solution
⩥ interpret. Answer: What step of decision modeling do the following
qualities apply to:
