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Decision Analysis in Business Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. In relation to business, which of the following best describes a decision strategy?

Question 2 2. Which of these is often acceptable to increase utility?

Question 3 3. What happens if the probability of A happening is zero?

Question 4 4. What chart does a decision strategy most resemble?

Question 5 5. Which of the following most accurately defines automatic decision making?

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Question 6 6. What kind of events can Bayes' Theorem test for probability?

Question 7 7. Why are companies that use decision strategies more agile?

Question 8 8. Which of these has the most utility to someone on a deserted island who is looking to escape?

Question 9 9. Who used utility to transform car manufacturing?

Question 10 10. Why can the probability of B never equal zero?

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Question 11 11. What is the definition of utility?

Question 12 12. Which country did not make use of utility to build its road network in the 1970s?

Question 13 13. Which of these statistical issues does Bayes' Theorem help address?

Question 14 14. Which of the following is NOT true about a decision tree?

Question 15 15. Which of these is an example of a calculation that Bayes' Theorem would be useful to find?

Decision Analysis in Business Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next question. You can skip questions if you would like and come back to them later with the "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. You will lose your work if you close or refresh this page. Good luck!

Business 116: Quantitative Analysis  /  Business Courses
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