Important point to be kept in mind while evaluating ERP software is the total cost that includes
1. Cost of license
2. Cost of training
3. Implementation and maintenance cost
4. Customisation and hardware requirements costs Select the correct answer:

The use of decision models.

A. Is possible when the variables value is known

B. Reduces the scope of judgement & intuition known with certainty in decision-making

C. Require the use of computer software

D. None of the above

Every mathematical model.

A. Must be deterministic

B. Requires computer aid for its solution

C. Represents data in numerical form

D. All of the above

A physical model is example of.

A. An iconic model

B. An analogue model

C. A verbal model

D. A mathematical model

The qualitative approach to decision analysis relies on.

A. Experience

B. Judgement

C. Intuition

D. All of the above