1. What is Decision Analysis? When is it most useful? Briefly outline a generic Decision Analysis process. How can a decision maker clearly communicate the objectives of a decision.
2. Jefferson and goldberg enter a contract for the sale of five acres of land at 10,000 dollars an acre. Later, Goldberg, the buyer, asks if jefferson will agree to modify the contract to 9,000 dollars per acre, Jefferson agrees is his promise binding on him?