Select the least accurate statement regarding RISKSIMTABLE. RISKSIMTABLE is a feature that is included in Excel. O RISKSIMTABLE is helpful for automating the process of running multiple simulations with different input values. One difference between the RISKSIMTABLE functionality and the data table functionality is that it runs a simulation for each input value and data table does not. O When multiple simulation runs are specified, the RISKSIMTABLE function is used to control in the value of a particular input cell that is used for each simulation. O The RISKSIMTABLE function is inserted into a cell with an input value and points to a range of values that the input value will take on.

Select the least accurate statement regarding RISKSIMTABLE. RISKSIMTABLE is a feature that is included in Excel. O RISKSIMTABLE is helpful for automating the process of running multiple simulations with different input values. One difference between the RISKSIMTABLE functionality and the data table functionality is that it runs a simulation for each input value and data table does not. O When multiple simulation runs are specified, the RISKSIMTABLE function is used to control in the value of a particular input cell that is used for each simulation. O The RISKSIMTABLE function is inserted into a cell with an input value and points to a range of values that the input value will take on.

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter13: Regression And Forecasting Models

Section: Chapter Questions

Problem 37P

See similar textbooks

Similar questions

Suppose you have invested 25% of your portfolio in four different stocks. The mean and standard deviation of the annual return on each stock are shown in the file P11_46.xlsx. The correlations between the annual returns on the four stocks are also shown in this file. a. What is the probability that your portfolios annual return will exceed 30%? b. What is the probability that your portfolio will lose money during the year?
The method for rating teams in Example 7.8 is based on actual and predicted point spreads. This method can be biased if some teams run up the score in a few games. An alternative possibility is to base the ratings only on wins and losses. For each game, you observe whether the home team wins. Then from the proposed ratings, you predict whether the home team will win. (You predict the home team will win if the home team advantage plus the home teams rating is greater than the visitor teams rating.) You want the ratings such that the number of predictions that match the actual outcomes is maximized. Try modeling this. Do you run into difficulties? (Remember that Solver doesnt like IF functions.) EXAMPLE 7.8 RATING NFL TEAMS9 We obtained the results of the 256 regular-season NFL games from the 2015 season (the 2016 season was still ongoing as we wrote this) and entered the data into a spreadsheet, shown at the bottom of Figure 7.38. See the file NFL Ratings Finished.xlsx. (Some of these results are hidden in Figure 7.38 to conserve space.) The teams are indexed 1 to 32, as shown at the top of the sheet. For example, team 1 is Arizona, team 2 is Atlanta, and so on. The first game entered (row 6) is team 19 New England versus team 25 Pittsburgh, played at New England. New England won the game by a score of 28 to 21, and the point spread (home team score minus visitor team score) is calculated in column J. A positive point spread in column J means that the home team won; a negative point spread indicates that the visiting team won. The goal is to determine a set of ratings for the 32 NFL teams that most accurately predicts the actual outcomes of the games played.
Which of the following statements is true regarding the advantages of using simulations? a. Its methodology can be used to model and learn about the behavior of complex systems. b. Simulations do not guarantee an optimal solution. c. Simulation models can be used to describe systems without requiring the assumptions often required by mathematical models. d. All of these are correct.
Which of the following statements is correct regarding the EMH form? Select one: None of the answers are correct If the market is weak-form efficient, then it is also semistrong and strong-form efficient. If the market is semistrong form efficient, then it is also strong form efficient If a market is strong-form efficient, it is also semistrong and weak form efficient If the market is strong-form efficient, it is also semistrong but not weak-form efficient
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 Report
A golf club manufacturer is trying to determine how the price of a set of clubs affects the demand for clubs. The file P10_50.xlsx contains the price of a set of clubs and the monthly sales. Assume the only factor influencing monthly sales is price. Fit the following three curves to these data: linear (Y = a + bX), exponential (Y = abX), and multiplicative (Y = aXb). Which equation fits the data best? Interpret your best-fitting equation. Using the best-fitting equation, predict sales during a month in which the price is $470. File data: Price Demand $400 20,000 $420 19,000 $440 17,000 $460 16,000 $500 14,000 $380 22,000 $290 31,000 $340 26,000 $220 41,000 $700 6,000
A company that supplies gasoline to a city has recorded the weeklyusage (tons/week) for the past 3 years. The file BA3653GasolineRecord.xlsxcontains this record. (c) In general, the company delivers the demanded gasoline to customersthat store it in their own facilities. However, the company would like toobtain its own storage tanks to better handle variability. The companyhas identified several solutions: a 500 ton, a 1000 ton, a 2000 ton and a3000 ton system, with each tank being proportionately more expensiveas its size grows. Given your predictions and the expected variability,what size of tank would you choose?(d) Reaching the city is sometimes hazardous due to weather conditions.Even with these challenges, the company estimates that the most thatshipments to the city may be delayed is 1 week. Given this information,which tank choice (of those in part c) do you think would be appropriate? week demand (tons) 1 1174.5 2 1316.2 3 1197 4 1127.3 5 1193.1 6 1260.7 7…
This data sufficiency problem consists of a question and two statements, labeled (1) and (2), in which certain data are given. You have to decide whether the data given in the statements are sufficient for answering the question. Using the data given in the statements, plus your knowledge of mathematics and everyday facts (such as the number of days in July or the meaning of the word counterclockwise), you must indicate whether:- Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient to answer the question asked.- Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient to answer the question asked.- BOTH statements (1) and (2) TOGETHER are sufficient to answer the question asked, but NEITHER statement ALONE is sufficient to answer the question asked.- EACH statement ALONE is sufficient to answer the question asked.- Statements (1) and (2) TOGETHER are NOT sufficient to answer the question asked, and additional data specific to the problem are…
You are cleaning the data for data modeling. Which of the following is NOT a data preparation step ? Group of answer choices Changing the variable type of outcome variable (Defaulted) Removing variable Index Replacing any missing value by the mean of that variable Computing the confusion matrix
Hi is this correct?The management of an oil company is trying to decide whether to drill for oil in a particular fieldin the Gulf of Mexico. It costs the company $600 thousand to drill in the selected field. Themanagement believes that if oil is found in this field, its estimated value will be $3400 thousand. Atpresent, this oil company believes that there is a 45% chance that the selected field actually containsoil. Before drilling, the oil company can hire a team of geologists to perform seismographic tests at acost of $55 thousand. Based on similar tests in other fields, the tests have a 25% false negative rate(no oil predicted when oil is present) and a 15% false positive rate (oil predicted when no oil ispresent).A. Assume the oil company wants to maximize its expected net earnings. Please utilize decisiontree analysis to determine its optimal strategy.B. Calculate the expected value of the information (EVI/EVSI) provided by the team ofgeologists.C. Calculate and interpret EVPI…
True or False: If our explanatory variables do not vary, our model will produce no estimates
Appliances Unlimited (AU) sells refrigerators. Anyrefrigerator that fails before it is three years old isreplaced for free. Of all refrigerators, 3% fail duringtheir first year of operation; 5% of all one-year-oldrefrigerators fail during their second year of operation;and 7% of all two-year-old refrigerators fail duringtheir third year of operation.a. Use simulation to estimate the fraction of all refrigeratorsthat will have to be replaced.b. It costs $500 to replace a refrigerator, and AU sells10,000 refrigerators per year. If the warranty periodwere reduced to two years, how much per year inreplacement costs would be saved?