Which of the following are benefits of what-if analysis?A) It pinpoints the sensitive parameters of the model.B) It gives the new optimal solution if conditions change.C) It tells management what policy decisions to make.D) All of the choices are correct.E) None of the choices is correct

In linear programming, what-if analysis is associated with determining the effect ofchanging:1. objective function coefficients.2. right-hand side values of constraints.3. decision variable values.A) I and II only.B) II and III only.C) I, II and III.D) II and III only.E) None of the choices is correct

What-if analysis:A) may involve changes in the objective function coefficients.B) requires that only one parameter change while the rest are held fixed.C) may involve changes in the right-hand side values.D) All of the choices are correct.E) None of the choices is correct.

When making a decision Blank______ costs and benefits should to be included in the analysis.Multiple choice question.only relevantonly opportunityall only irrelevant

How does a cost-benefit analysis help a person make economic decisions?A.It creates additional incentives to promote a particular decision.B.It eliminates the opportunity costs associated with a decision.C.It allows a decision to be made without considering any trade-offs.D.It shows whether a decision will produce more gains than losses.

Mention the advantages and disadvantages of using the 5 Whys approach.