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Author Question: In a base-case scenario, the output is determined by assuming a. worst values that can be expected ... (Read 60 times)

PhilipSeeMore

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on: Jun 24, 2018
In a base-case scenario, the output is determined by assuming
 a. worst values that can be expected for the random variables of a model.
  b. the mean trial values for the random variables of a model.
  c. best values that can be expected for the random variables of a model.
  d. the most likely values for the random variables of a model.

Question 2

The process of evaluating a decision in the face of uncertainty by quantifying the likelihood and magnitude of an undesirable outcome is known as
 a. risk analysis.
  b. regression analysis.
  c. data mining.
  d. decision tree analysis.


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Carliemb17

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Reply #1 on: Jun 24, 2018
Answer to Question 1

d
RATIONALE: In a base-case scenario, the output is determined by assuming the most likely values for the random variables of a model.

Answer to Question 2

a
RATIONALE: The process of evaluating a decision in the face of uncertainty by quantifying the likelihood and magnitude of an undesirable outcome is known as risk analysis.


PhilipSeeMore

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Reply 2 on: Jun 24, 2018
YES! Correct, THANKS for helping me on my review

Dominic

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Reply 3 on: Yesterday
Wow, this really help

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