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IS 466 Decision Support Systems 1. The payoff table always has more states of nature than decision alternatives. 2. In some cases, the Expected Value of Sample Information can exceed the Expected Value of Perfect Information. 3. The Expected Value of Perfect Information is always a value greater than 0. 4. “Uncertainty” implies probabilities; “risk” implies ignorance. 5. An aggressive decision maker would pr ...

Other / Other 17 Mar 2016

IS 466 Decision Support Systems MULTIPLE CHOICE QUESTIONS 1. Which of the following criteria represents an aggressive/optimistic approach? a. maximin b. minimax c. minimax regret d. maximax 2. If it is assumed that each possible state of nature has an equal likelihood of occurrence, the expected value criterion will yield the same result as: a. maximin. b. minimax c. maximax d. the principle of insufficient reason. 3. The e ...

Other / Other 17 Mar 2016

IS 466 Decision Support Systems 6. When using the maximax criterion, the optimal decision alternative may be determined by simple inspection of the payoff table. 7. The “principle of insufficient reason” indicates the decision maker’s belief that any state of nature is as likely to occur as any other state. 8. “Expected value” in decision analysis is synonymous with “most likely value.” 9. ...

Other / Other 17 Mar 2016

Wearing the Guru Jacket.” Please respond to the following: • Identify the rule which most surprises you about the “short version” of the Sikh “Code of Conduct,” and explain why you are surprised to find that rule was included in the Code. • Explain which one of the meanings of the 5 Ks of Sikhism most intrigues you, and explain why. • Describe what you would ask Guru Gobind Singh if you could ask him just one thing, and explai ...

Other / Other 20 Apr 2013

“Comparisons.” Please respond to the following: • Explain the similarities and differences held by Sikhs and Christians concerning either baptism, nature and identity of God, or appeal to lower socio-economic classes. • Explain any similarities or differences in Sikhism from Hinduism with regard to caste and gender. • Explain any similarities or differences which Sikhism shares with Judaism concerning active proselytizing and the ch ...

Other / Other 20 Apr 2013