Match the term with the correct description If Break-even Decision Goal seek Mod

Question

Match the term with the correct description If Break-even Decision Goal seek Model Risk Scatter diagram States of Nature A Function in Excel that will check whether a condition is met, and returns one value if TRUE, and another value if FALSE. Decision making environment where probabilities of states of nature are able to be estimated. Quantity where the company will neither make nor lose money on the product. A graph that is used to show the relationship between two quantitative variables Correspond to future events that are not under the control of the maker. A representation of reality or a real-life situation. A graphical representation of alternatives and uncertain events. Excel function which allows the user to specify a target and the variable that is desired to change in order to achieve that target.

Explanation / Answer

(A) function in excel that will check whether a condition is met and return one value if TRUE and another value if FALSE

Ans:if function

(B) Decision making environment where probabilities of states of nature are able to be estimated

Ans;Risk

(C) quantity where the company will neither make nor lose money on the product

Ans:Break even

(D)A graph that is used to show the relationship between two quantitative variables

Ans:Scatter plot

(E) correspond to future events that are not under the control of the decission maker

Ans:states of nature

(F) A representation of realty or a real life situation

Ans:model

(G) A graphical representation of alternatives and uncertain events

Ans:Decision tree

(H) excel function which allows the users to specify a target and the variable that is desired to change in order to achieve that target

Ans:Goal seek

Related Questions

Navigate

• Browse (All)
• Browse M
• Subjects

---