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What is involved in the decision process

Discuss the following:

Q: What is involved in the decision process? Be sure to discuss the steps involved in this process. Please share a good decision that you have made where a bad outcome occurred. Why do you think this outcome occurred?

Optional: What are the goals of utility theory?

Optional: What are potential pitfalls in regression analysis? What can be done to prevent this pitfall from occurring?

Reference

Render, B., Stair, R. M., Jr., & Hanna, M. E., (2012), Quantitative analysis for management (11th ed.), Upper Saddle River, NJ, Prentice Hall, (P. 70-120)

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