MHR 405 Chapter Notes - Chapter 7: Liquid Oxygen, Satisficing

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Lo1: rational choice paradigm of decision making: decision making: the conscious process of making choices among alternatives with the intention of moving towards some desired state of affairs, rational choice paradigm: the view in decision making that people should and typically do use logic and all available information to choose the alternative with the highest value, subjective expected utility: the probability (expectancy) of satisfaction (utility) resulting from choosing a specific alternative in a decision. 5: evaluate the selected choice implement the selected choice, a problem is a deviation between the current and the desired situation the gap between what is and what ought to be , programmed decisions follow standard operating procedures; they have been resolved in the past, so the optimal solution has already been identified and documented, non programmed decisions require all steps in the decision model because the problems are new, complex, or ill defined.

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