Use of sensitivity analysis and postoptimality analysis

Reference no: EM1396681

1. Describe the use of sensitivity analysis and postoptimality analysis in analyzing the results.

2. Describe the characteristics of a Bernoulli process. How is a Bernoulli process associated with the binomial distribution?

3. What is the purpose of decision trees? How are they constructed?

4. What is the overall purpose of utility theory? Explain using an example.

5. Explain simple linear regression. What are the potential pitfalls of regression analysis?

Reference no: EM1396681

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