Quiz 5
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School
California State University, Northridge *
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Course
415
Subject
Industrial Engineering
Date
Dec 6, 2023
Type
docx
Pages
4
Uploaded by DoctorDinosaurMaster874
dynamic
A
spreadsheet
model
represents
behavior
over
time.
.
4/4points
Four
major
components
of
a
quantitative
model
include.
They
are
included:
The
variables
that
describe
alternative
courses
of
action
are
called
decision
variables
The
variables
that
reflect
the
level
of
effectiveness
of
a
system;
that
result
(outcome)
variables
is,
they
indicate
how
well
the
system
performs
or
attains
its
goal(s)
are
called
The
variables
that
reflect
intermediate
outcomes
in
mathematical
intermediate
result
variables
models
are
called
The
variables
in
any
decision-making
situation
that
are
not
under
the
uncontrollable
Variables
control
of
the
decision
maker
are
called
parameters
Factors
that
are
not
under
the
control
of
the
decision
maker
but
can
be
fixed,
are
called
!
.
!
dynamic
A(n)
model
can
be
constructed
under
assumed
environments
of
certainty.
.
Goal
seeking
is
performed
by
indicating
a
target
cell,
its
desired
value,
and
a
changing
cell.
‘When
the
decision
maker
must
consider
several
possible
outcomes
for
each
alternative,
each
with
a
given
probability
of
occurrence,
this
is
decision
making
under
uncertainty.
duress.
.
°
risk.
A
model
builder
makes
predictions
and
assumptions
regarding
input
data,
many
of
which
deal
with
the
assessm
n
1/1point
Spreadsheets
include
all
possible
tools
needed
to
deploy
a
custom
decision
support
systems
(DSS).
True
O
False
n
1/1point
A
decision
made
under
risk
is
also
known
as
a
probabilistic
or
stochastic
decision-making
situation.
n
o
True
!
algebraic
The
components
of
a
quantitative
model
are
linked
by
expressions.
The
most
common
method
for
solving
a
risk
analysis
problem
is
to
select
the
alternative
with
the
mean
expected
value.
smallest
expected
value.
o
greatest
expected
value.
median
expected
value.
neutral
expected
value.
2/2
points
!
analysis
-
alternatives
Risk
is
a
decision-making
method
that
analyzes
the
risk
based
on
assumed
known
probabilities
associated
with different
.
-
Important
spreadsheet
features
for
modeling
include
all
of
the
following
EXCEPT
macros.
goal
seeking.
O
pivot
tables.
what-if
analysis.
.
A
decision
table
shows
the
relationships
of
the
problem
graphically
and
can
handle
complex
situations
in
a
compact
form.
There
are
two
common
approaches
to
dealing
with
uncertainty.
The
first
is
the
approach
which
assumes
that the
outcomes
for
all
alternatives
will
be
the
!
best
'
pessimistic
best
possible
and
then
the
of
each
of
those
may
be
selected.
The
second
is
the
approach.
Under
the
this
approach
the
worst
possible
Nl
best
N
worst
outcome
is
assumed
for
each
alternative
and
then
the
of
the
are
selected.
This
method
calculates
the
values
of
the
inputs
necessary
to
achieve
a
desired
level
of
an
output.
what-if
linear
programming
(LP)
scenario
n
O
goal
seek
sensitivity
1/1point
Which
of
the
following
is
NOT
a
characteristic
displayed
by
a
linear
programming
(LP)
allocation
problem?
Each
activity
in
which
the
resources
are
used
yields
a
return
in
terms
of
the
stated
goal.
The
allocation
is
usually
restricted
by
several
limitations
and
requirements.
The
resources
are
used
in
the
production
of
products
or
services.
o
There
is
a
single
way
in
which
the
resources
can
be
used.
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Which
of
the
following
is
NOT
a
component
of
a
quantitative
model?
parameters
decision
variables
u
O
classes
result
variables
1/1point
Simulation
is
normally
used
only
when
a
problem
is
too
complex
to
be
treated
using
numerical
optimization
techniques.
1/1point
Every
linear
programming
(LP)
model
has
some
internal
intermediate
variables
that
are
not
explicitly
stated.
n
o
True