This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The study of how changes in the probability assessments for the states of nature or changes in the ... (Read 131 times)

dollx

  • Hero Member
  • *****
  • Posts: 558
on: Jun 24, 2018
The study of how changes in the probability assessments for the states of nature or changes in the payoffs affect the recommended decision alternative is known as
 a. uncertainty analysis. b. cost analysis.
  c. sensitivity analysis. d. probability analysis.

Question 2

___________ is the study of the possible payoffs and probabilities associated with a decision alternative or a decision strategy in the face of uncertainty.
 a. Risk analysis
  b. Cost analysis
  c. Certainty analysis
  d. Optimization


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Eunice618

  • Sr. Member
  • ****
  • Posts: 350
Reply #1 on: Jun 24, 2018
Answer to Question 1

c
RATIONALE: Sensitivity analysis is the study of how changes in the probability assessments for the states of nature or changes in the payoffs affect the recommended decision alternative.

Answer to Question 2

a
RATIONALE: Risk analysis is the study of the possible payoffs and probabilities associated with a decision alternative or a decision strategy in the face of uncertainty.


dollx

  • Member
  • Posts: 558
Reply 2 on: Jun 24, 2018
Gracias!

shewald78

  • Member
  • Posts: 340
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Always store hazardous household chemicals in their original containers out of reach of children. These include bleach, paint, strippers and products containing turpentine, garden chemicals, oven cleaners, fondue fuels, nail polish, and nail polish remover.

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

Did you know?

As many as 20% of Americans have been infected by the fungus known as Histoplasmosis. While most people are asymptomatic or only have slight symptoms, infection can progress to a rapid and potentially fatal superinfection.

Did you know?

Glaucoma is a leading cause of blindness. As of yet, there is no cure. Everyone is at risk, and there may be no warning signs. It is six to eight times more common in African Americans than in whites. The best and most effective way to detect glaucoma is to receive a dilated eye examination.

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

Using Probability Calculations in Genetics Using Probability Calculations in Genetics
The Abecedarian study was designed to help very low-income African American children prepare for ... The Abecedarian study was designed to help very low-income African American children prepare for ...
Largest nitric acid plants in the United States Largest nitric acid plants in the United States
Globalization Within the United States Globalization Within the United States
Martorano's cross-sectional study Martorano's cross-sectional study
Survivorship curves for people in the United States in the early 20th and early 21st centuries Survivorship curves for people in the United States in the early 20th and early 21st centuries
Video: Darwin's Observation (Fossils, Galapagos Islands & Africa ) and Natural Selection (Adaptive Traits)

For a complete list of videos, visit our video library