Choice the right answer from the answers given below: 1- A deterministic model i

ID: 3124262 • Letter: C

Question

Choice the right answer from the answers given below:

1- A deterministic model is one in which

A- there is some uncertainty about the parameters used in the model.

B- there is a measurable outcome.

C- all parameters used in the model are known with complete certainty.

D- there is no available computer software.

2- If probabilities are available to the decision maker, then the decision-making environment is called:

A- certainty.

B- uncertainty.

C- risk.

D- none of the above.

3- In assessing utility values,

A- the worst outcome is given a utility of –1.

B- the best outcome is given a utility of 0.

C- the worst outcome is given a utility of 0.

D- the best outcome is given a value of –1.

4- Qualitative forecasting models include

A- Regression analysis.

B- Delphi.

C- Time-series models.

D- Trend lines.

5- When comparing several forecasting models to determine which one best fits a particular set of data, the model that should be selected is the one

A- with the highest MSE.

B- with the MAD closest to 1.

C- with a bias of 0.

D- with the lowest MAD.

1) C all parameters used in the model are known with complete certainty.

2) C risk

3) C the worst outcome is given a utility of 0.

4) B Delphi.

5) D with the lowest MAD.

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