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BSAD 30 Exam 1 questions well answered to pass
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BSAD 30 Exam 1 questions well answered to pass
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BSAD 30 Exam 1Single-criterion decision problem - correct answer ✔✔A problem in which the objective is to find the
"best" solution with respect to just one criterion.
Multicriteria decision problem - correct answer ✔✔A problem that involves more than one criterion; the
objective is to find the "best" solution, taking into account all the criteria.
Iconic model - correct answer ✔✔A physical replica, or representation, of a real object.
Analog model - correct answer ✔✔Although physical in form, an analog model does not have a physical
appearance similar to the real object or situation it represents.
Mathematical model - correct answer ✔✔Mathematical symbols and expressions used to represent a
real situation.
Objective function - correct answer ✔✔The mathematical expression that defines the quantity to be
maximized or minimized.
Uncontrollable input - correct answer ✔✔The factors that cannot be controlled by the decision maker.
Controllable input - correct answer ✔✔The decision alternatives that can be specified by the decision
maker.
Deterministic model - correct answer ✔✔A model in which all uncontrollable inputs are known and
cannot vary.
Stochastic model - correct answer ✔✔A model in which at least one uncontrollable input is uncertain
and subject to variation; stochastic models are also referred to as probabilistic models.
, Addition law - correct answer ✔✔A probability law used to compute the probability of a union: P(A U B)
= P(A) + P(B) - P(A n B). For mutually exclusive events, P(A U B) = 0 , and the addition law simplifies to P(A
U B) = P(A) + P(B) .
Basic requirements of probability - correct answer ✔✔Two requirements that restrict the manner in
which probability assignments can be made: 1.
Bayes' theorem - correct answer ✔✔A method used to compute posterior probabilities.
Classical method - correct answer ✔✔A method of assigning probabilities that is based on the
assumption that the experimental outcomes are equally likely.
Conditional probability - correct answer ✔✔The probability of an event given another event has
occurred. The conditional probability of A given B is P(A|B) = P(A n B)/P(B).
Joint probability - correct answer ✔✔The probability of the intersection of two events.
Marginal probabilities - correct answer ✔✔The values in the margins of the joint probability table, which
provide the probability of each event separately.
Multiplication law - correct answer ✔✔A probability law used to compute the probability of an
intersection:P(A n B)= P(A|B)/P(B) or P(A n B)= P(B|A)/P(A). For independent events, this simplifies to
P(A n B)= P(A)P(B) .
Mutually exclusive events - correct answer ✔✔Events that have no sample points in common; that is, is
empty and P(A n B) = 0. intersection point = 0
Posterior probabilities - correct answer ✔✔Revised probabilities of events based on additional
information
Prior probabilities - correct answer ✔✔Initial probabilities of events.
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