Problem
1. What is a problem parameter? Give some examples of parameters in a decision model.
2. List some advantages of using spreadsheets for decision modeling.
3. What is implementation, and why is it important?
4. Describe the use of sensitivity analysis, or post optimality analysis, in analyzing the results of decision models.
5. Managers are quick to claim that decision modelers talk to them in a jargon that does not sound like English. List four terms that might not be understood by a manager. Then explain in nontechnical terms what each of them means.