Normal distribution dialog of the risk solver platform

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Reference no: EM132227127

1. Which of the following is a parameter in the Normal Distribution Dialog of the Risk Solver Platform?

A. maximum value

B. most likely value

C. minimum value

D. mean

2. Which of the following best defines Monte Carlo simulation?

A. It is the process of selecting values of decision variables that minimizes or maximizes some quantity of interest.

B. It is a collection of techniques that seeks to group or segment a collection of objects into subsets.

C. It is a tool for building statistical models that characterize relationships among a dependent variable and one or more independent variables.

D. It is the process of generating random values for uncertain inputs in a model and computing the output variables of interest.

3. What tool do you use to find the information to answer the question "what cumulative profit are we likely to realize with a probability of at least 0.90?" using Analytic Solver platform in a simulation model?

A. Percentiles results

B. Confidence Interval for the Mean

C. Overlay chart

D. Trend chart

4. Which of the following best defines objective functions?

A. They are quantities for which no feasible solutions exist in an optimization model.

B. They are limitations, requirements, or other restrictions that are imposed on any solution in an optimization model.

C. They are quantities that an optimization model seeks to maximize or minimize.

D. They are unknown values that an optimization model seeks to determine.

Reference no: EM132227127

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