________ is the act of reproducing the behavior of a system using a model that describes the processes of the system

Which of the following statements is likely to be correct for a decision tree which indicates a 30 percent chance of making a $250,000 profit and a 70 percent chance of sustaining a $140,000 loss?

A) the expected value is negative before discounting. B) the expected value is positive before discounting. C) the decision should be "yes" whenever the amount of possible profit exceeds the amount of possible loss. D) the decision should be "no" whenever there is a possibility of loss.

Ron was concerned that customers at his store might be injured while on the premises and file a lawsuit against him. To provide protection against such claims, Ron should purchase:

(a) liability insurance (b) social insurance (c) surety bonds (d) inland marine insurance