A DSS Typically Includes Modeling Tools, Such as ____, So

question 130

Multiple Choice

A DSS typically includes modeling tools, such as ____, so managers can create a numerical representation of a situation and explore "what-if" alternatives.

• A) spreadsheets
• B) databases
• C) expert systems
• D) Web pages

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Definitions:

Nash Equilibria

A concept in game theory where no player can gain by unilaterally changing their strategy, indicating a balance where each player's strategy is optimal given the other players' strategies.

Maximin Strategy

A strategy in decision-making which aims to maximize the minimum gain that can be earned, focusing on the worst-case scenario.

Collusion

A secretive or illegal agreement between parties to limit competition by deceiving, misleading, or defrauding others of their legal rights, or to obtain an objective forbidden by law.

Winner's Curse

A situation in an auction where the winning bid exceeds the intrinsic value or true worth of an item.