Decision Making

Decision Making

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Read Self Test Question 4. I would like you to use the information from this question to respond to the following:

 What decision making model would you use to make this decision?  Are any of the decision-making traps discussed in our text in danger of clouding your judgement?  Would any of the tools and techniques for making better decisions assist us in this decision?  What is your final decision and why? Please be aware that I am not asking you to provide the calculations for this problem. While I would like you to understand how the problem is solved, the solutions are at the end of the section, so you should have the accurate information to make your final decision. The point of this paper is for you to apply the decision making techniques to the area of managerial accounting.


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