Saintleo COM315 Module 7 Discussion Latest 2018 December
COM315 Decision Support Systems
Module 7 Discussion
1. Give an example of
a good decision you made that resulted in a bad outcome. Also, give an example
of a bad decision you made that resulted in a good outcome. Why was each
decision good or bad?
2. What is an
alternative? What is an outcome?
3. Discuss the
differences between decision making under uncertainty and decision making under
risk and explain what decision making strategies are used in each situation.
4. What is the EMV?
Give an example.
5. What is the
difference between the EVPI and the EV with PI?
6. Explain Opportunity
Loss and give an example.
7. What is the purpose
of Bayesian analysis? Describe how you would use Bayesian analysis in the
decision-making process.
8. What is Utility
Theory and how is it used?
9. What is a queuing
problem? What are the components of a queuing system?
10. What are the
assumptions underlying common queuing models?
11. Describe the
important operating characteristics of a queuing system.
12. Describe three situations
in which the FIFO discipline rule is not applicable in queuing analysis.
13. Explain what is
meant by a finite or limited waiting line. Provide four examples.
14. Do you think the
Poisson distribution is a good estimation of arrival rates in the following
queuing systems? Defend your position in each case>
a. School cafeteria
b. Barbershop
c. DentistsÕ office
d. College class
e. Movie theater
15. What ’s the
difference between single-server and single-phase? Give an example of each.
16. What is Kendall
notation? Give some examples.
17. Explain the costs
associated with a queue. Explain the typical relationship between these costs.
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