Question

Explain the discriminate between relevant and irrelevant information for making decisions.

Answer 1

We include many factors while making a decision

Some of they are relevant and some of they are irrelevant

Relevant information for decision making

1. We need to include all the factors like financial, cultural,regional, and what are really available to us to make decisions

2. We may think many far factors also which may effect a little bit to our decisions and it also effects the results of our decisions

Irrelevant matter we think about while we make decisions .

1. Many matters like unusual people and who may not get any benefit and any loss to them but we think about them alot and in some cases we may change our decisions based on there opinions

2. Many unusual expenses that we think about while we take financial analysis and we may not required too much to think about that expenditure but we make changes to our decisions by including that costs also because there is a increase in our budget by including that all irrelevant expenses.

In my view the above mentioned all the information about relevant and irrelevant information about decision making.

Thank you.