Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
9 Cards in this Set
- Front
- Back
|
The volume at which total revenues equal total costs.
|
Break-even quantity
|
|
|
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.
|
Break-even Analysis
|
|
|
The protion of the total costs that varies directly with volume of output.
|
Variable Cost
|
|
|
The portion of the total cost that remains constant regardless of changes in levels of output.
|
Fixed Cost
|
|
|
A technique for systematically changing parameters in a model to determine the effects of such changes.
|
Sensitivity Analysis
|
|
|
A table that allows the manager to rate an alternative according to several performance criteria.
|
Preference Matrix
|
|
|
A general approach to decision making when the outcomes associated with alternatives are often in doubt.
|
Decision Theory
|
|
|
A table that shows the amount for each alternative if each possible event occurs.
|
Payoff Table
|
|
|
A schematic model of alternatives available to the decision maker, along with their possible consequences.
|
Decision Tree
|
