1. Describe the types of decisions that do not involve uncertainty and risk and common approaches used for analyzing them.
2. Explain how payback period, NPV, and IRR criteria are used in decision making.
3. Explain the components of a decision tree and how optimal decisions are computed.
4. Describe the three elements that all queuing systems have in common
5. List and define the major types of performance measures used in queuing analysis.
Please answer each question, there is NO minimum amount of words required per question, you just need to be sure you are explaining it well enough for me to understand. Otherwise I will not accept. Don't COPY/CUT and PASTE information, I will run through similarity software and I will reject paper. Please provide references for where you got answers from. Must be credible sites.