Exam 4: Modeling and Analysis

In decision making under uncertainty,the decision maker considers situations in which several outcomes are possible for each course of action.In this case,the decision maker can estimate the probability of occurrence of the possible outcomes.

One of the assumptions of the linear programming allocation model is that not all data are known with certainty.

List and briefly discuss the three major components of linear programming.

________ is a decision-making method that analyzes the risk associated with different alternatives.

DSS uses mostly qualitative models,whereas expert systems use quantitative models in their applications.

The four components in a decision support mathematical model are linked together by the ________ relationships,such as equations.

The pessimistic approach assumes that the best possible outcome of each alternative will occur and then selects the best of the best.

An influence diagram is a graphical representation of a model; that is,it is a model of a model.

Distinguish between a static model and a dynamic model.