What is a decision model, and what are the three types of inputs common to decision models

Week 5 HW

Please reply the subsequent questions.

Use this at the least of 1 of the references:

Evans, J. R. (2013). Statistics, info analysis, and dedication modeling (fifth ed.). Greater Saddle River, NJ: Prentice Hall.


Question 1         

What’s a name model, and what are the three styles of inputs widespread to dedication fashions


Question 2         

Describe recommendations on tips on how to use Excel info tables, Scenario Supervisor, and intention search devices to analyze dedication fashions.


Question three         

Make clear elementary spreadsheet approaches for implementing dedication fashions in Excel.


Question 4         

Make clear the concept of risk analysis and the way in which Monte Carlo simulation can current useful knowledge for making alternatives.


Question 5         

Summarize the modeling and analysis using Solver software program obtainable in Excel and what knowledge it gives. You must speak in regards to the steps to run optimization using Solver in excel and produce optimization output and sensitivity tales.


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