GAQM Exam APM-001 Topic 7 Question 51 Discussion

Actual exam question for GAQM's APM-001 exam

Question #: 51
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 Melissa at May 23, 2024, 06:07 PM

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Gracie

6 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

5 months ago

B) Three-point estimate

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Malissa

5 months ago

A) Sensitivity analysis

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Portia

5 months ago

B) Three-point estimate

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Marshall

5 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

6 months ago

D) Expected monetary value analysis

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Dominic

6 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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