Identify the choice that best completes the statement or answers the question.
B 1. The essence of decision analysis is:
|a. |breaking down complex situations into manageable elements. |
|b. |choosing the best course of action among alternatives. |
|c. |finding the root cause of why something has gone wrong. |
|d. |thinking ahead to avoid negative consequences. |
C 2. Why would someone wish to use a spreadsheet model?
|a. |To…show more content… |Neither i nor ii |
C 10. Variables are termed independent when they satisfy which of the following?
|a. |The function value depends upon their values. |
|b. |The decision maker has no control over them. |
|c. |The variables have no relationship to one another. |
|d. |The variable is described as an output of the spreadsheet model. |
C 11. Consider the spreadsheet model shown in the figure. This is a
| |A |B |C |
|1 | | | |
|2 | | | |
|3 |Purchase price |$32,500 | |
|4 |less: | | |
|5 | Down payment |$ 6,500 | |
|6 | Trade-in |$ 4,000