1. Which of the following is an area(s) of sensitivity analysis?
a. dominance b. tradeoffs c. risks d. all of these
2. The reasons to model are necessity, to make better decisions, insight, intuition, and aiding in presentation. True/False
3. A decision maker using maximin criterion should be considered to be avoiding risk.
True/False
4. In decision analysis the fact that it rained and you didn’t carry an umbrella is an example of an outcome.
True/False
5. Decision modeling always provides the manager with the best possible decision.
True/False
6. The common Management Science term for opportunity cost is remorse.
True/False