Decision Analysis
Description: This quiz covers the fundamental concepts and techniques used in Decision Analysis, a branch of Operations Research that helps decision-makers make optimal choices in the face of uncertainty. | |
Number of Questions: 15 | |
Created by: Aliensbrain Bot | |
Tags: decision analysis decision making uncertainty expected value bayesian analysis |
What is the primary goal of Decision Analysis?
Which of the following is NOT a key element of a decision problem?
What is the expected value of a decision alternative?
Which decision criterion is most appropriate when the decision-maker is risk-averse?
What is the purpose of sensitivity analysis in Decision Analysis?
Which of the following is NOT a type of decision tree analysis?
What is the role of Bayesian Analysis in Decision Making under Uncertainty?
Which decision criterion is most appropriate when the decision-maker is risk-seeking?
What is the purpose of a utility function in Decision Analysis?
Which of the following is NOT a common type of uncertainty in Decision Analysis?
What is the role of scenario analysis in Decision Analysis?
Which decision criterion is most appropriate when the decision-maker is indifferent to risk?
What is the purpose of a decision matrix in Decision Analysis?
Which of the following is NOT a type of decision analysis model?
What is the role of sensitivity analysis in Decision Analysis?