true or false 8.Influence diagrams cannot be regarded as a method for eliciting decision trees.
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true or false
8.Influence diagrams cannot be regarded as a method for eliciting
decision trees.
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- The decision making is a. The process of rejecting the wrong alternative from multiple possible solutions b. The Process of adopting the right decision c. The process of selecting one of several possible solutions d. The process of selecting several of several possible solWill the use of decision tree analysis guarantee the best decision for a i rm? Why or why not? If not, why bother using it?Please help with correct answers! Management Decision Systems (MDS) is a consulting company that specializes in the development of decision support systems. MDS has a four-person team working on a current project with a small company to set up a system that scrapes data from a collection of websites and then automatically generates a report for management on a daily basis. Time (Weeks) Activity Description ImmediatePredecessor Optimistic Most Probable Pessimistic A Report generation 2 9 13 B Web scraping 5 10 12 C Testing A, B 1 1 1 a) Based solely on the critical path, estimate the probability that the project will be complete within 12 weeks. (Round your answer to four decimal places.) b) Using all paths through the project network, estimate the probability that the project will be complete within 12 weeks. (Round your answer to four decimal places.)
- Select the least accurate statement. A) The expected monetary value (EMV) criterion represents the long-run average of uncertain outcomes, so it should only be used for recurring decisions. b) For each possible decision and each possible outcome, the payoff table lists the associated monetary value. c)The certainty equivalent is the certain dollar amount a risk-averse decision maker would accept in order to avoid a gamble altogether. D) For a risk-averse decision maker, the certainty equivalent is less than the expected monetary value (EMV).An engineer designed a valve that will regulate water pressure on an automobile engine. The engineer designed the valve such that it would produce a mean pressure of 7.2 pounds/square inch. It is believed that the valve performs above the specifications. The valve was tested on 290 engines and the mean pressure was 7.3 pounds/square inch. Assume the standard deviation is known to be 0.6. A level of significance of 0.02 will be used. Determine the decision rule. Enter the decision rule.SYSTEM IDENTIFICATION 15- The concept of "whether the parameters of a model set can be uniquely determined from the predictor filters or not" is called: A. identifiability B. stability C. prediction D. differentiability E. observability ANSWER and write the reason? a
- Q1. (400 words) Ahmed's interest was cricket. When he finished university, he wanted to work in a management job. He wanted to do his research project on some aspect of general management and social sciences, preferably for a sports goods manufacturer but had no research idea. He asked five friends, all taking business education degrees, to help him brainstorm the problem. You are requested to use the following problem-solving techniques to generate and refine the research idea in this business scenario. The technique of Brainstorming 2.The Delphi techniqueQ1) Ahmed's interest was cricket. When he finished university, he wanted to work in a management job. He wanted to do his research project on some aspect of general management and social sciences, preferably for a sports goods manufacturer but had no research idea. He asked five friends, all taking business education degrees, to help him brainstorm the problem. You are requested to use the following problem-solving techniques to generate and refine the research idea in this business scenario. i) The technique of Brainstormingii) The Delphi techniqueWhich of the following does NOT apply to decision making under uncertainty? a. Minimax regret b. Maximin return c. Maximize expected return d. Maximax return
- True or false .5. There is no good-for-all basis for decision-making.What is the advantages of using predictive analyctics? Explain in 250 words. Say that it improves decision making, making competitive advantage, improves risk management, and others.A decision in which the manager of a firm decides on only the whole number value of a control variable. * marginal decision discrete decision continuous decision incremental decision