100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
Previously searched by you
Business Intelligence, Analytics, Data Science, and AI, 5th Edition by Ramesh Sharda, Dursun Delen, Efraim Turban Chapter 8 Prescriptive Analytics: Optimization and Simulation$8.99
Add to cart
Business Intelligence, Analytics, Data Science, An
Business Intelligence, Analytics, Data Science, an
Exam (elaborations)
Business Intelligence, Analytics, Data Science, and AI, 5th Edition by Ramesh Sharda, Dursun Delen, Efraim Turban Chapter 8 Prescriptive Analytics: Optimization and Simulation
9 views 0 purchase
Course
Business Intelligence, Analytics, Data Science, an
Institution
Business Intelligence, Analytics, Data Science, An
Business Intelligence, Analytics, Data Science, and AI, 5th Edition by Ramesh Sharda, Dursun Delen, Efraim Turban
Chapter 8 Prescriptive Analytics: Optimization and Simulation
1) Modeling can be viewed as a science in its entirety.
Answer: FALSE
Diff: 2 Page Ref: 471
2) In the openin...
Business Intelligence, Analytics, Data Science, an
All documents for this subject (12)
Seller
Follow
LIXAN
Reviews received
Content preview
Business Intelligence, Analytics, Data Science,
and AI, 5th Edition by Ramesh Sharda, Dursun
Delen, Efraim Turban
Chapter 8 Prescriptive Analytics: Optimization and Simulation
1) Modeling can be viewed as a science in its entirety.
Answer: FALSE
Diff: 2 Page Ref: 471
2) In the opening vignette, the solution helped to determine how many vendors to award
contracts to, as well as the size of each of the contracts.
Answer: FALSE
Diff: 2 Page Ref: 473
3) If linear programming can be successfully applied to a problem, the output is usually optimal.
Answer: TRUE
Diff: 1 Page Ref: 489
4) Making optimal decisions using analytical models is what is called prescriptive analytics.
Answer: TRUE
Diff: 1 Page Ref: 474
5) In order to be effective, analysts must use optimal models to solve problems without being
constrained by organizational culture.
Answer: FALSE
Diff: 2 Page Ref: 476
6) The use of simulation models is desirable because they can usually be solved in one pass,
without incurring the time and cost of iterations.
Answer: FALSE
Diff: 2 Page Ref: 505
7) An advantage of simulation is that it allows model builders to solve problems with minimal
interaction with users or managers.
Answer: FALSE
Diff: 2 Page Ref: 505
,9) Using data cubes in OLAP systems opens the data up to analysis by more classes of models.
Answer: FALSE
Diff: 3 Page Ref: 479
10) Another name for result variables is independent variables.
Answer: FALSE
Diff: 2 Page Ref: 480
11) Taking a decision under risk is different from taking the decision under uncertainty.
Answer: TRUE
Diff: 2 Page Ref: 482
12) Spreadsheets are the second most popular tool for end-user modeling.
Answer: FALSE
Diff: 1 Page Ref: 484
13) Linear programming seeks to optimally allocate resources among competing activities and is
likely the best-known optimization model.
Answer: TRUE
Diff: 2 Page Ref: 490
14) Decision-making under uncertainty decision maker can only estimate the probability of
occurrence.
Answer: FALSE
Diff: 3 Page Ref: 483
15) Most managerial problems can be properly evaluated and solved using a single goal, such as
profit maximization.
Answer: FALSE
Diff: 3 Page Ref: 497
16) Sensitivity analysis seeks to assess the impact of changes in the input data and parameters on
the proposed solution.
Answer: TRUE
Diff: 2 Page Ref: 498
17) What if and goal seeking are the two most common methods of sensitivity analysis.
Answer: TRUE
Diff: 2 Page Ref: 499
18) An expected value is computed by dividing the results (i.e., outcomes) by their respective
probabilities and subtracting them.
Answer: FALSE
Diff: 2 Page Ref: 502
19) Time compression in a simulation allows managers to assess the long-term effects of many
policies.
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller LIXAN. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $8.99. You're not tied to anything after your purchase.
