Question

True or false:

1- A utility curve that shows utility increasing at an increasing rate

as the monetary value increases represents the utility curve of a risk seeker

2- A seasonal index must be between -1 and +1

3- Utility theory provides a decision criterion that is superior to the EMV or EOL in that it may allow the decision maker to incorporate her own attitudes toward risk

4- The SSE measures the total variability in the independent variable about the regression line.

5- The Delphi method solicits input from customers or potential customers regarding their future purchasing plans

6- When using the EOL as a decision criterion, the best decision is the alternative with the largest EOL value.

7- Any time that we have an isoprofit line that is parallel to a constraint, we have the possibility of multiple solutions

Statistics and Probability