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