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Busıness Decısıon Models
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Busıness Decısıon Models Deneme Sınavı Sorusu #1375759
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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