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9 Cards in this Set
- Front
- Back
The volume at which total revenues equal total costs.
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Break-even quantity
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The use of the break-even quanitity; it can be used to compare processes by finding the volume at which two different processes have equal total costs.
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Break-even Analysis
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The protion of the total costs that varies directly with volume of output.
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Variable Cost
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The portion of the total cost that remains constant regardless of changes in levels of output.
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Fixed Cost
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A technique for systematically changing parameters in a model to determine the effects of such changes.
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Sensitivity Analysis
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A table that allows the manager to rate an alternative according to several performance criteria.
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Preference Matrix
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A general approach to decision making when the outcomes associated with alternatives are often in doubt.
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Decision Theory
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A table that shows the amount for each alternative if each possible event occurs.
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Payoff Table
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A schematic model of alternatives available to the decision maker, along with their possible consequences.
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Decision Tree
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