Please answer the following 4 questions in a simple explanation. 150 words or more for each question please. These questions are based out of James R. Evans, Statistics, data analysis, and decision modeling, 5th edition. Pearson learning solutions. Chapte
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Please answer the following 4 questions in a simple explanation. 150 words or more for each question please. These questions are based out of James R. Evans, Statistics, data analysis, and decision modeling, 5th edition. Pearson learning solutions. Chapters 8, 9 & 10. Unfortunately I cannot provide a copy but if you can write a simple explanation of 150 words for each question, I can rewrite and add my citations. Thank you!!! Describe how to use Excel data tables, Scenario Manager, and goal seek tools to analyze decision models. Explain basic spreadsheet approaches for implementing decision models in Excel. Explain the concept of risk analysis and how Monte Carlo simulation can provide useful information for making decisions. Summarize the modeling and analysis using Solver tool available in Excel and what information it provides. You need to discuss the steps to run optimization using Solver in excel and produce optimization output and sensitivity reports.
