QUESTION 2 In _____ decision making companies have to decide whether they should
ID: 3221861 • Letter: Q
Question
QUESTION 2
In _____ decision making companies have to decide whether they should manufacture a product or outsource its production to another firm
make-versus-buy
voting-based
two-way
goal-seek
1 points
QUESTION 3
The modeling process begins with the framing of the _____ that shows the relationships between the various parts of the problem being modeled
mathematical model
correlation model
conceptual model
circular model
1 points
QUESTION 4
A(n) _____ is a visual representation that shows which entities influence others in a model
time series plot
entity chart
influence diagram
decision tree diagram
A.make-versus-buy
B.voting-based
C.two-way
D.goal-seek
Explanation / Answer
Answer 2 : - THe correct option is (A) make-versus-buy
Answer 3 : - The correct option is (C ) conceptual model
Note ;- A conceptual model is a representation of a system, made of the composition of concepts which are used to help people know, understand, or simulate a subject the model represents. Some models are physical objects; for example, a toy model which may be assembled, and may be made to work like the object it represents.
Answer 4 :- The correct option is (C) influence diagram
Note :- Influence diagram: Visual representation that shows which entities influence others in a model.
•Parts of the model are represented by circular or oval symbols called nodes, and arrows connecting the nodes show influence.