Decision of Uncertainty Paper

Decision of Uncertainty Paper - 1 Decision of Uncertainty...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
1 Decision of Uncertainty Paper Decision of Uncertainty Paper Natalie Davis QNT-TM561 Professor Al Siu May 23, 2011
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
2 Decision of Uncertainty Paper Uncertainty is a given with l decision. Uncertainty may arise from incomplete or ambiguous information about the current or potential future state of any process. Decision uncertainty leads to potential decision errors. For the primary mistakes made in two ways. The conclusion may be that a process does not pose an unacceptable risk, when” in fact “it does. Alternatively, the conclusion may be that a process poses a concern and so requires further action, when in fact it does not. The first error can result in missed information. The second error can result in the waste of an individual’s time and a company‘s resource. Merck and Schering-Plough merged in November 2009 to create a new company. Today the company is the second-largest health-care company in the world. The corporation is the global leader in consumer products and animal care. Through the years, researchers have
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 4

Decision of Uncertainty Paper - 1 Decision of Uncertainty...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online