Can You Explain The Difference Between Optimizing And Satisficing Decision?


Answer:
Satisficing is a type of decision making strategy, the purpose of which is to not look for the best solution instead such a solution is selected that meets the criteria for satisfactoriness. As human beings have limited knowledge and even if they have all the information necessary even then they would not know how to process it. So satisficing says that the decision maker should select the tremendously first alternative that meets the set standards or criteria. Thus it is selecting the alternative that meets minimum requirements. On the other mitt and optimal solution optimal solution involves selecting the solution that provides the maximum possible benefit. It therefore involves going through all the alternatives and after that making the result.

Resolved Questions:
Why Should Children Have Homework?
Personally I think children shouldn't have homework, but they do in charge to prepare themselves for tests. They have tests surrounded by order to be smarter for the world they will be released into when they come to be of a certain age. 18 Because it helps them next to...

The Variance Of A Group Of Scores Is 9. What Is The Standard Deviation...
1. 12. 33. 4.54. Impossible to determine without more information The standard deviation will be 3 because the standard deviation is square root of variance. Standard deviation= (variance) 1/2 Standard deviation is the square root...

Rock Is Thrown Into The Air At 26 Feet Per Second From A Height Of...
According to second equation of motion; S = Ut + 1/2gt 2 S = distance = 13 feet U = initial velocity = 26 feet per second g = gravitational acceleration = 9.8 meter per second...