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GAQM Exam APM-001 Topic 7 Question 51 Discussion

Actual exam question for GAQM's APM-001 exam
Question #: 51
Topic #: 7
[All APM-001 Questions]

Which of the following is a statistical concept that calculates the average outcome when the future includes scenarios that may or may not happen?

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Suggested Answer: D

by Melissa at May 23, 2024, 06:07 PM

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Gracie
7 months ago
Haha, this reminds me of that time in my statistics class when the professor asked us to calculate the expected value of winning the lottery. Spoiler alert: it's not a good investment!
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Yuki
6 months ago
B) Three-point estimate
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Malissa
6 months ago
A) Sensitivity analysis
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Portia
6 months ago
B) Three-point estimate
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Marshall
6 months ago
A) Sensitivity analysis
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Jacinta
7 months ago
Hmm, I'm not sure. C. Modeling and simulation also seems like it could be a valid answer. This question is tricky!
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Kizzy
7 months ago
D) Expected monetary value analysis
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Dominic
7 months ago
A) Sensitivity analysis
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Talia
7 months ago
I think the answer is D. Expected monetary value analysis seems to fit the description of calculating the average outcome when there are multiple possible scenarios.
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Mammie
6 months ago
Modeling and simulation can also provide insights into different outcomes.
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Belen
6 months ago
True, it helps in understanding how variations can affect the outcome.
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Page
7 months ago
Sensitivity analysis is also important in assessing the impact of changes.
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Kattie
7 months ago
Exactly, it's a useful tool in decision-making under uncertainty.
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Benton
7 months ago
So, it helps in determining the average outcome based on those possibilities.
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Clarinda
7 months ago
Yes, it makes sense to use Expected monetary value analysis for such scenarios.
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Jerlene
7 months ago
It makes sense, as it considers different scenarios and their probabilities.
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Camellia
7 months ago
I agree with you, D) Expected monetary value analysis is the correct answer.
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Karl
7 months ago
I agree, Expected monetary value analysis is the correct answer.
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