MA, Adapted)21. The modeling technique to be employed in a situation involving asequence of events with several possible outcomes associated with eachevent isnetwork analysis.с.Monte Carlo simulation.a.b. decision tree analysis.d.linear programming. (CMA, Adapted)Questions 22 through 24 are based on the following information:A beverage stand can sell either soft drinks or coffee on any given day. If thestand sells soft drinks and the weather is hot, it will make P2,500; if theweather is cold, the profit will be P1,000. If the stand sells coffee and theweather is hot, it will make P1,900; if the weather is cold, the profit will beP2,000. The probability of cold weather on a given day at this time is 6070.22. The expected payoff for selling coffee isP1,360.b. P2,200.a.P3,900.d. P1,960.C.(CMA, Adapted)

21. The modeling technique to be employed in a situation involving a sequence of events with several possible outcomes associated with each event is network analysis. b. decision tree analysis. с. Monte Carlo simulation. a. d. linear programming. (CMA, Adapted)

21. The modeling technique to be employed in a situation involving a sequence of events with several possible outcomes associated with each event is network analysis. b. decision tree analysis. с. Monte Carlo simulation. a. d. linear programming. (CMA, Adapted)

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Concept explainers

Optimization Models

Optimization models are mathematical models that help organizations determine the best way to allocate scarce resources to achieve specific objectives. These models can be used to solve a wide variety of problems, from finding the most efficient route for a delivery truck to determining the optimal mix of products to stock in a store.

Question

MA, Adapted)
21. The modeling technique to be employed in a situation involving a
sequence of events with several possible outcomes associated with each
event is
network analysis.
с.
Monte Carlo simulation.
a.
b. decision tree analysis.
d.
linear programming. (CMA, Adapted)
Questions 22 through 24 are based on the following information:
A beverage stand can sell either soft drinks or coffee on any given day. If the
stand sells soft drinks and the weather is hot, it will make P2,500; if the
weather is cold, the profit will be P1,000. If the stand sells coffee and the
weather is hot, it will make P1,900; if the weather is cold, the profit will be
P2,000. The probability of cold weather on a given day at this time is 6070.
22. The expected payoff for selling coffee is
P1,360.
b. P2,200.
a.
P3,900.
d. P1,960.
C.
(CMA, Adapted)

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