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1. Fecision theory: used for solving allocation and investment problems.
2. Forecasting: used to forecast the outcome of managerial decisions.
3. Game theory: it provides systematic approach to decision making in competitive environments and framework for the study of conflicts.
4. Mathematical programming : it attempts to maximize the maximum level of a goal subject to set of requirements and limitations.
5. Heuristic programming: uses qualitative decision rules to facilitate the solution of complex problems.
Jonmhumble answered the question on October 23, 2017 at 10:46
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