QRB 501 Week 6 DQs and Summary Ver 2

This work of QRB 501 Week 6 Discussion Questions and Summary Version 2 consists of:

DQ 1: What are the elements of a decision? How does statistical decision theory differ in conditions of certainty and uncertainty? When making a decision, can doing nothing be a valid alternative? Why? Please remember to cite your sources.

DQ 2: What skills do managers need today? Are these skills different from management skills of 50 years ago? Why?