The inherent risks that exist in optimization models can be better understood and mitigated using the capabilities of risk analysis software such as ________.
A)Solver
B)PHStat
C)Crystal Ball
D)MS Excel

Question

Quizplus · Accepted Answer

Crystal Ball is a risk analysis software that is specifically designed for use with optimization models. It allows users to identify and analyze potential risks and uncertainties associated with their models, and to develop strategies for mitigating those risks. Solver and PHStat are optimization and statistical analysis tools respectively, but do not have the same capability for risk analysis as Crystal Ball. MS Excel does have some risk analysis functions, but they are generally less robust than those offered by specialized risk analysis software.

The Inherent Risks That Exist in Optimization Models Can Be