Choice "B" is correct. Probability and expected value formulate quantitative models to address the issue of appropriate course of action in an environment of uncertainty. The expected value is a weighted average of all values and variables. The course of action with the highest expected monetary value should be selected.
Choice "d" is incorrect. Cost-volume profit analysis is a method used to evaluate operating decisions.
Choice "c" is incorrect. PERT is a technique used in project management that focuses on the time required to complete each step in a project. It allows a project manager to monitor a project’s progress and identify potential bottlenecks or delays that will postpone the completion date.
Choice "a" is incorrect. The scattergraph method is used in statistical analysis to plot relationships between variables to determine a line function that best describes those relationships.