All T/F are 2 points each. Solve all problems to 3 decimal points True/False, a=True.bafalse 1. Simulation modeling is the science/art of developing S. A sensitivity plot would illustrate how the decision changes as the probability of a decision alternative changes. Forecasting is part of predictive analytics and based on data obtained in the sales and marketing department. In time series forecasting models time is the Y variable. computer based models that mimic the behavior of 6. 2. Randomness relates to different outcomes that are 3. Monte Carlo simulation models can be developed in 4. The States of Nature are
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