Question1 1- The analysis of a complex decision situation by constructing a math

Question

Question1 1- The analysis of a complex decision situation by constructing a mathematical model of the situation and then performing a large number of iterations in order to determine the probability of distribution of outcomes called a. Sensitivity Analysis b. Expected Utility Analysis c. Simulation d. A Decision Tree. 2- A risk is identified as event or condition that, if it occurs, has a positive or negative effect on one or more project a. Indefinite, probabilities b. Uncertain, objectives c. Sure, goals d. Definite, uncertainties. 3- Decision Trees are best used for a. Determining the interaction of the amount at stake and the expected value. b. Association of probabilities with the risk events. c. Calculating the average outcome when the future includes scenarios that may or may not happen d. A flow chart which determines the standard deviation of the risk event.

Explanation / Answer

1) Simulation

2) Uncertain, objectives

3) Determining the interaction of the amount at stake and expected value,

4) Look for the ways to avoid the risk.
5) Risk if they happen always have negatice impact and not positive.

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