GAQM Exam APM-001 Topic 7 Question 56 Discussion

Actual exam question for GAQM's APM-001 exam

Question #: 56
Topic #: 7

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

ASensitivity analysis

BThree-point estimate

CModeling and simulation

DExpected monetary value analysis

Show Suggested Answer

Suggested Answer: D

by Felicia at Jul 15, 2024, 11:27 PM

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Brock

3 months ago

D) Expected monetary value analysis, definitely. It's the only option that explicitly mentions 'average outcome' and 'scenarios that may or may not happen.' Sounds like the perfect fit for this question. Now, if only I could predict the lottery numbers as accurately...

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Lang

2 months ago

A) Sensitivity analysis

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Lynda

2 months ago

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Juan

2 months ago

D) Expected monetary value analysis

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Lashaunda

2 months ago

C) Modeling and simulation

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Lillian

3 months ago

B) Three-point estimate

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Lindsey

3 months ago

A) Sensitivity analysis

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Jesse

3 months ago

I believe it's B) Three-point estimate, as it considers different possibilities for the future outcome.

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Viola

4 months ago

I'm not sure, but I think it might be C) Modeling and simulation.

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Carolann

4 months ago

Hmm, I'm torn between B) Three-point estimate and D) Expected monetary value analysis. Decisions, decisions. Maybe I should just flip a coin and hope for the best. Or maybe I'll just stick with C) Modeling and simulation - it's the most fun option, at least.

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Hector

3 months ago

True, but D) Expected monetary value analysis is more commonly used in project management.

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Elenore

3 months ago

But B) Three-point estimate also takes into account different scenarios.

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Leana

3 months ago

I agree, it's a reliable method for calculating average outcomes.

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Louvenia

3 months ago

I think D) Expected monetary value analysis is the way to go.

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Gwen

4 months ago

D) Expected monetary value analysis? Really? Sounds like a fancy way of saying 'guessing the future based on a crystal ball.' I'll go with C) Modeling and simulation, at least that has a touch of science to it.

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Elbert

2 months ago

Sensitivity analysis could also be useful in considering different scenarios.

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Lisbeth

3 months ago

I agree, expected monetary value analysis does sound like a fancy way of guessing the future.

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Magdalene

3 months ago

Modeling and simulation is definitely more scientific than expected monetary value analysis.

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Alishia

3 months ago

C) Modeling and simulation can help in understanding different scenarios.

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Werner

3 months ago

B) Three-point estimate could provide a more accurate prediction.

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Yvette

3 months ago

A) Sensitivity analysis is also a good option to consider.

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Frederica

4 months ago

I think the correct answer is D) Expected monetary value analysis. It's a statistical concept that takes into account different potential outcomes and their probabilities to calculate the average expected outcome.

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