« previous next »

Author Question: When a decision maker is faced with several alternatives and an uncertain set of future events, s/he ... (Read 157 times)

savannahhooper

  • Hero Member
  • *****
  • Posts: 576
on: Jun 24, 2018
When a decision maker is faced with several alternatives and an uncertain set of future events, s/he uses ______ to develop an optimal strategy.
 a. utility theory b. predictive analytics
  c. data mining d. decision analysis

Question 2

Simulation optimization helps
 a. in identifying the constraints of the situation.
  b. to find good decisions in highly complex and highly uncertain settings.
  c. in assigning values to outcomes.
  d. to model certainty using optimization techniques.


JCABRERA33

  • Sr. Member
  • ****
  • Posts: 344
Reply #1 on: Jun 24, 2018
Answer to Question 1

d
RATIONALE: The techniques of decision analysis can be used to develop an optimal strategy when a decision maker is faced with several decision alternatives and an uncertain set of future events.

Answer to Question 2

b
RATIONALE: Simulation optimization combines the use of probability and statistics to model uncertainty with optimization techniques to find good decisions in highly complex and highly uncertain settings.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The heart is located in the center of the chest, with part of it tipped slightly so that it taps against the left side of the chest.

Did you know?

The FDA recognizes 118 routes of administration.

Did you know?

More than nineteen million Americans carry the factor V gene that causes blood clots, pulmonary embolism, and heart disease.

Did you know?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

Did you know?

In the United States, there is a birth every 8 seconds, according to the U.S. Census Bureau's Population Clock.

Shame-faced crab Shame-faced crab
(a) The relative age ranges of different dating techniques depend upon the half-life of the system u (a) The relative age ranges of different dating techniques depend upon the half-life of the system u
Major Events in the History of Psychology (2 of 6) Major Events in the History of Psychology (2 of 6)
By age 3, children develop scripts for common events such as eating at a restaurant. By age 3, children develop scripts for common events such as eating at a restaurant.
The two skills of the element Selection of Alternatives The two skills of the element Selection of Alternatives
Vascular events in the acute inflammatory process Vascular events in the acute inflammatory process
Video: Optic Nerve and Optic Disk Animation (Part 2 of 2)

For a complete list of videos, visit our video library