1.Parameter is measurable input quantity that is inherent in a problem

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True

False

2.

In decision theory, Expected Monetary value is the price that one would be willing to pay in order to gain access to perfect information.

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True

False 3.

The assignment model is a special case of the transportation model in which the number of origin must equal the number of the destination that is the table is a square that is the number of rows and columns must be equal.

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True

False 4.

Whereas time-series and causal models rely on quantitative data, qualitative models attempt to incorporate judgmental or subjective factors into the forecasting model.

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True

False

5.

Waiting lines are a regular phenomenon that affects people shopping for food, buying fuel, making a bank deposit, or waiting on the phone for the first airline reservationist available to comment.

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True

False

6.

In regression, what we want to establish is the exact numerical relationship between the two variables so that, for any given profit centre, we can try to forecast profit based on some causal value.

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True

False 7.

Expected opportunity loss is a technique used is to quantify the potential loss of making an incorrect choice in risk-based.

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True

False 8.

One of the advantages of quantitative models it must be enriched in qualitative description.

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True

False 9.

Forecasts are more accurate for longer time periods.

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True

False 10.

Expenses can often be determined by subtracting fixed costs from variable cost.

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True

False