Many decisions are simple preprogrammed or already solved


Many decisions are simple, preprogrammed, or already solved. For example, retailers do not have to think long to decide how to deal with a new customer. Some operations- research models provide "ready-made" decisions, such as finding an optimal inventory level using an order-quantity formula or determining an optimal production mix using lin ear programming. Contrast these decisions with unstructured or strategic decisions, such as choosing a career or locating a nuclear power plant. What kinds of decisions are appro priate for a decision-analysis approach? Comment on the statement, "Decision making is what you do when you don't know what to do." (For more discussion, see Howard 1980.)

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Basic Statistics: Many decisions are simple preprogrammed or already solved
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