Busıness Decısıon Models Deneme Sınavı Sorusu #1375759

In which of the following cases are mathematical and statistical methods used to calculate the expected value of the profit without simulation?


Uncertainty

Little information

Scarce source

Many alternatives

Negative attitude


Yanıt Açıklaması:

In case of uncertainty, two different ways are followed to make a good decisions. One of them is the simulation which different combinations of possible demands and startup costs will be tried on the computer. Thus, this simulation can give us a better idea of the possible values of the profit obtained. The other method is to use mathematical and statistical methods to calculate the expected value of the profit without simulation. The correct answer is A.

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