4. A decision tree analysis A. has decision and outcome nodes. B. can be used only in decisions admitting certainty. C. does not consider attributes during solution. D. shall always result to distinct expected values.
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Select the correct answer(s) for each item. If NONE or MORE THAN ONE of the choices is the correct answer, choose E.
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- a. Based picture, create table showing the PS = RQ = RO. b. Create each problem statement that focusing on product quality, product price and product promotion. c. Give an issue on each problem statement.Which of the following is the fourth step in the decision making process? a.Identify decision criteria b.Allocating weight to each criteria c.Developing Alternatives d.Selecting AlternativeWhich of the following statements about what-if analysis is TRUE? Multiple Choice Changes in an objective function coefficient will always lead to changes in decision variable values. Changes to constraint right-hand side values will always lead to changes in decision variable values. Changes in an objective function coefficient will never lead to changes in decision variable values. Changes to constraint right-hand side values will never lead to changes in decision variable values. None of the answer choices is correct.
- Primarily which among the following reports will you use, to know which constraints are binding and which are not, while using Solver? a. Answer Report b. Sensitivity Report c. None of these d. Limits ReportConsider Bruno who manages an underwriting team in an insurance firm. Recently, the management of Bruno’s firm informed him of their decision to create a new risk assessment team, consisting of data scientists with machine learning expertise, and reduce the size of Bruno’s underwriting team. Bruno’s underwriting team will now work with the new risk assessment team in order to determine whether to provide insurance to applicants Use the model of a firm’s technology choice and graphically illustrate the management’s restructuring decision in a diagram with isocost curves. Your diagram should have the amount of human intelligence on the horizontal axis and the amount of artificial intelligence on the vertical axis. Fully label your diagram. Note that there are no actual numbers given in this question: you may make them up or simply use appropriate notations. Briefly explain the key information of your diagram.Identify which type of analysis best fits each of the following descriptions. Requires the use of a computer Allows for probabilities to be assigned Includes the use of break-even analysis options; SCENARIO SENSITIVITY SIMULATION
- Answer the following scenarios by providing the applicable analysis type and benefits: a. The Marketing Department is planning a "direct mailing" campaign. To minimize the cost of the campaign it should determine which customers are most likely to respond to the offer. b. The Sales Department, in order to increase sales, has to decide which combination of products should be recommended to a particular customer. c. The Marketing Department is to prepare or modify the products and services offer so that it optimally matches the needs of different customers. d. The CRM Department is to determine the profile of clients who intend to resign from our services, and then take actions to keep themCorrect and detailed answer will be Upvoted else downvoted. No plagarism pleaseA graph that helps decision makers use probability theory by showing the expected values of decisions in varying circumstances is known as a(n) a. Gantt chart b. probability curve c. bar graph d. decision tree In the rational model of decision making, evaluation of alternatives a. is the last step. b. should be as objective as possible. c. can only be done with the help of a decision tree. d. is the only step that requires subjective rationality
- 48- The maximum number of sales that can occur in a given period to an individual or businesses that are willing to sell in a given market is known as: a. Product demand b. Market potential c. Market demand d. All the options are correctIndicate whether the data are time series or cross-sectional. Number of cars sold by each salesperson in a dealership in October Choose the correct answer below. About A. The data are cross-sectional because the data are measured over time. B. The data are cross-sectional because the data are taken from situations that vary over time but are measured at a single time instant. OC. The data are time series because the data are taken from situations that vary over time but are measured at a single time instant. D. The data are time series because the data are measured over time. Click to select your answer. Question Helpa. Use a decision tree to recommend a decision. b. Use EVPI to determine whether Gorman should attempt to obtain a better estimate of demand. c. A test market study of the potential demand for the product is expected to report either a favorable (F) or unfavorable (U) condition. The relevant conditional probabilities are as follows: P(F | s1) = 0.10 P(U | s1) = 0.90 P(F | s2) = 0.40 P(U | s2) = 0.60 P(F | s3) = 0.60 P(U | s3) = 0.40 What is the probability that the market research report will be favorable?