Questions from Spreadsheet Modeling

Q: Suppose sharks have been spotted along the beach where you are vacationing

Suppose sharks have been spotted along the beach where you are vacationing with a friend. You and your friend have been informed of the shark sightings and are aware of the damage a shark attack can i...

Q: What is meant by the term decision analysis?

What is meant by the term decision analysis?

Q: Describe an example in which a well-known business, political

Describe an example in which a well-known business, political, or military leader made a good decision that resulted in a bad outcome, or a bad decision that resulted in a good outcome.

Q: What kinds of spreadsheet applications would not be considered business analytics?

What kinds of spreadsheet applications would not be considered business analytics?

Q: Can a model have more than one dependent variable?

Can a model have more than one dependent variable?

Q: Can a decision problem have more than one dependent variable?

Can a decision problem have more than one dependent variable?

Q: In what ways are prescriptive models different from predictive models?

In what ways are prescriptive models different from predictive models?

Q: Refer to question 6. Suppose that service at the drive-

Refer to question 6. Suppose that service at the drive-in window is provided at a rate of 40 customers per hour and follows an exponential distribution. In Question 6 Tri-Cities Bank has a single dri...

Q: In what ways are descriptive models different from predictive models?

In what ways are descriptive models different from predictive models?

Q: Identify one or more mental models you have used. Can any

Identify one or more mental models you have used. Can any of them be expressed mathematically? If so, identify the dependent and independent variables in your model.