Reference no: EM133208673

Assignment:

1. In analysing a problem, you should normally study

• The qualitative aspects
• The quantitative aspects
• Both a and b
• Neither a nor b

2. Quantitative analysis is typically associated with the use of

• Schematic models
• Physical models
• Mathematical models
• Scale models

3. Sensitivity analysis is most often associated with which step of the quantitative analysis approach?

• Defining the problem
• Acquiring input data
• Implementing the results
• Analyzing the results

4. The square root of the variance is the

• Expected value
• Standard deviation
• Area under the normal curve
• All of the above

5. Probabilities for all the possible values of a discrete random variable

• May be greater than 1
• May be negative on some occasions
• Must sum to 1
• Are represented by area underneath the curve

6. In decision theory terminology, a course of action or a strategy that may be chosen by a decision maker is called

• A payoff
• An alternative
• A state of nature
• None of the above

7. If probabilities are available to the decision maker, then the decision-making environment is called

• Certainty
• Uncertainty
• Risk
• None of the above

8. A decision tree is preferable to a decision table when

• A number of sequential decisions are to be made
• Probabilities are available
• The maximax criterion is used
• The objective is to maximize regret

9. A multiple regression model differs from a simple linear regression model because the multiple regression model has more than one

• Independent variable
• Dependent variable
• Intercept
• Error

10. A good regression model should have

• A low r² and a low significance level for the F-test
• A high r² and a high significance level for the F-test
• A high r² and a low significance level of the F-test
• A low r² and a high significance level of the F-test