Author Question: In a base-case scenario, the output is determined by assuming a. worst values that can be expected ... (Read 73 times)

PhilipSeeMore · **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.

Carliemb17 · **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.