Question: 1.Prescriptive analytics is the process of using decision analysis tools to improve decision making. True or false 2.The Monte Carlo simulation relies solely on average

1.Prescriptive analytics is the process of using decision analysis tools to improve decision making. True or false

2.The Monte Carlo simulation relies solely on average values to capture risk and uncertainty. True or false

3. Binomial and Poisson distributions are the two most relevant probability distributions for Monte Carlo simulations. True or false

4.Continuous uniform distribution, also known as the rectangular distribution, captures the time that elapses between occurrences. true of false

6.Integer Programming, like Linear Programming, requires the analyst to round to the nearest integer for optimization. true or false

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!