Gr 11 Math Lit: Ch 3.7 Compare two Options

What is the primary purpose of gathering data in the comparison process?

To collect all relevant information for each option (correct)
To establish criteria for the decision
To identify potential risks of each option
To calculate the cost-benefit ratio

Which of the following is not a step in the comparison process?

Documenting and presenting the findings
Assessing risks
Defining the options
Conducting market research (correct)

What is the purpose of using mathematical tools in the comparison process?

To establish criteria for the decision
To identify potential risks of each option
To calculate the total cost of each option
To organize the data and calculate key metrics (correct)

What is the primary goal of comparing the options based on the criteria, costs, benefits, and risks?

To make an informed decision about which option is more advantageous (D) Signup and view all the answers

What should be included in the documentation of the comparison process?

All calculations and rationales (A) Signup and view all the answers

What is the purpose of presenting the findings in a clear and logical manner?

To support the analysis with visual aids (C) Signup and view all the answers

What is the primary purpose of identifying the options in the comparison process?

To clearly define the two options and gather relevant data (C) Signup and view all the answers

Which of the following is an example of an indirect cost?

Time spent on training (D) Signup and view all the answers

What is the purpose of conducting a risk assessment?

To evaluate the potential risks associated with each option (C) Signup and view all the answers

What is the cost-benefit ratio used to determine?

The benefits of each option in relation to the costs (D) Signup and view all the answers

What is the purpose of using mathematical tools and techniques?

To organize and visualize the data (C) Signup and view all the answers

What is the primary goal of the comparison process?

To make an informed decision about which option is more advantageous (C) Signup and view all the answers

What is the purpose of establishing the criteria for comparison?

To ensure the comparison is relevant and comprehensive (B) Signup and view all the answers

What is the benefit of using tables, graphs, and equations in the comparison process?

To organize and visualize the data (B) Signup and view all the answers

What is the primary purpose of calculating the total cost of each option?

To compare the costs of each option and make an informed decision (A) Signup and view all the answers

What is the primary advantage of using visual aids such as charts and graphs in the presentation of findings?

To make the findings more concise and easy to understand (D) Signup and view all the answers

Why is it important to consider both direct and indirect costs when calculating the total cost of each option?

Because both direct and indirect costs can have a significant impact on the overall cost of each option (D) Signup and view all the answers

What is the primary purpose of establishing the criteria for comparison?

To ensure that all important aspects of the decision are considered (D) Signup and view all the answers

What is the primary advantage of using mathematical tools and techniques in the comparison process?

To make the decision more objective and based on data (A) Signup and view all the answers

What is the primary purpose of comparing the options based on the criteria, costs, benefits, and risks?

To make an informed decision about which option is more advantageous (C) Signup and view all the answers

What is the primary focus of the cost analysis in comparing two options?

Calculating the total cost associated with each option (A) Signup and view all the answers

What is the purpose of evaluating the benefits of each option in the comparison process?

To determine the cost-benefit ratio of each option (B) Signup and view all the answers

Which of the following is an example of a direct cost?

The cost of purchasing a piece of equipment (C) Signup and view all the answers

What is the primary goal of establishing the criteria for comparison?

To ensure that the comparison is relevant and comprehensive (D) Signup and view all the answers

How do mathematical tools and techniques contribute to the comparison process?

By organizing and visualizing the data (B) Signup and view all the answers

What is the primary purpose of conducting a risk assessment in the comparison process?

To identify potential risks and assess their likelihood and impact (D) Signup and view all the answers

What is the primary focus of the benefit analysis in comparing two options?

Identifying and quantifying the benefits of each option (C) Signup and view all the answers

What is the ultimate goal of comparing two options based on the established criteria, costs, benefits, and risks?

To make an informed decision about which option is more advantageous (D) Signup and view all the answers

When establishing the criteria for comparison, what should be considered to ensure comprehensive coverage of the decision-making process?

Relevant and comprehensive aspects of the options (B) Signup and view all the answers

What is the primary purpose of calculating the total cost associated with each option?

To compare the costs with the benefits of each option (C) Signup and view all the answers

Which of the following is an example of a non-monetary benefit of an option?

Improved quality of life (B) Signup and view all the answers

What is the primary purpose of using mathematical tools and techniques in the comparison process?

To organize and analyze the data to facilitate decision-making (C) Signup and view all the answers

What is the primary focus of the risk assessment in the comparison process?

Assessing the potential risks associated with each option (D) Signup and view all the answers

Which of the following is a common criterion used to compare options?

The convenience of each option (D) Signup and view all the answers

What is the primary goal of comparing the options based on the established criteria, costs, benefits, and risks?

To make an informed decision about which option is more advantageous (B) Signup and view all the answers

What is the purpose of quantifying the benefits of each option in the comparison process?

To compare the benefits with the costs of each option (D) Signup and view all the answers

What is the main reason for distinguishing between direct and indirect costs in the cost analysis?

To provide a more accurate representation of the costs (D) Signup and view all the answers

What is the main advantage of using visual aids in the presentation of findings?

To provide a clear and concise summary of the results (B) Signup and view all the answers

What is the primary purpose of quantifying the benefits of each option?

To compare the options based on their potential outcomes (B) Signup and view all the answers

What is the main advantage of using mathematical tools and techniques in the comparison process?

To provide a more accurate representation of the data (C) Signup and view all the answers

What is the primary purpose of documenting the comparison process?

To provide a record of the decision-making process (D) Signup and view all the answers