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Addressing Uncertainty (2.6.25) Flashcards | StudBud
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Addressing Uncertainty (2.6.25)
Addressing Uncertainty (2.6.25)
10 terms
·
StudBud Administration
·
25 plays
Review of MCDM & Probability for class on 2/6/2025.
Flashcards
10 cards
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Practice quiz
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Host live
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Questions
10
Answers
1
The shadow price for the Supply 2 Value indicates...
The constraint should be less than or equal to 0
Cannot be determined
The constraint is nonbinding
The constraint is binding
2
Consider that your agency believes
cost is 3x as important as capacity
. What weights reflect this preference?
Norm. Cost * (3/4) + Norm. Capacity * (1/4)
Norm. Cost * (1/6) + Norm. Capacity * (5/6)
Norm. Cost * (1/3) + Norm. Capacity * (1/3)
Norm. Cost * (1/4) + Norm. Capacity * (3/4)
3
Event A: student is a statistics major, B: student takes statistics classes. For a random student, these events are:
Overlapping and conditional
Mutually exclusive
Overlapping and independent
Independent but not overlapping
4
What is an example of a
benefit
in the table
and
what would be the normalizing constant for that criteria
?
Cost; 10
Cost; 20
Capacity; 5000
Capacity; 10000
5
True/False: Sensitivity Analysis is useful for understanding how uncertainty in input data affects decisions.
False
True
6
Which formula represents the probability of event A given that event B has already occurred?
1 - P(A)*P(B)
P(A)*P(B)
\frac{P\left(A∩B\right)}{P\left(B\right)}
P(A) + P(B)
7
You draw one card from a standard deck. Event A: red card, Event B: face card. Which statement is true? The events are:
Conditional; drawing a red card changes the prob. of drawing a face card.
Collectively exhaustive; they cover all cards in the deck.
Overlapping; some red cards are also face cards.
Mutually exclusive; a red card cannot be a face card.
8
True/False: Alternative C is dominated by Alternative B.
False
True
9
If an agency is uncertain about future conditions, what strategy may help the agency increase system resilience?
Ignore uncertainty and plan the system for the current population
Optimize the system to minimize cost
Build the largest system immediately
Use adaptive planning to expand the system over time
10
True/False: The Pareto frontier includes all possible alternatives.
True
False
