18. All times in the decision tree below are given in hours. What is the expected travel time (in hours) of
the optimal (minimum travel time) decision?
a) 7.8
b) 6.9
c) 7.4
d) 7.0
19. An analytics professional is responsible for maintaining a simulation model that estimates
system throughput given different staffing levels required for a specific operational business
process. Assuming that the operational team always uses the number of staff determined by the
model, which of the following is the MOST important maintenance activity?
a) Ensure that all of the model input data items are available when needed.
b) Determine if there has been a change in model accuracy over time.
c) Ensure that all users are reviewing the model results in a timely fashion.
d) Determine that the model’s reports are understood by the users.
20. A segmentation of customers who shop at a retail store may be performed using which of the
following methods?
a) Monte Carlo Markov Chain and ANOVA
b) Clustering, factor and control charts
c) Decision tree and recursive function analyses
d) Clustering and decision tree
21. In the diagram below, what is true of Strategy B compared to Strategy A?
Cumulative Probability Curves
NPV - Millions US$
cum. probability
1
0.9
0.8
Strategy A
0.7
Strategy B
0.6
0.5
0.4
0.3
0.2
0.1
0
(400)
(200)
-
200
400
600
NPV, Millions US$
15
®
800
1,000
1,200
1,400
1,600