scenario
Management
(noun)
An outline or model of an expected or supposed sequence of events.
Finance
(noun)
A set of factors that can affect the consequences of an action. The environment.
Examples of scenario in the following topics:
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Instructional Scenarios
- Here are some scenarios that portray educational applications of behaviorism: Scenarios for Using Behaviorism (http://epltt.coe.uga.edu/index.php?
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Scenario Analysis
- Scenario analysis is a process of analyzing decisions by considering alternative possible outcomes.
- For example, a firm might use scenario analysis to determine the net present value (NPV) of a potential investment under high and low inflation scenarios.
- Many scenario analyses use three different scenarios: base case, worst case and best case.
- While clearly a bad scenario, it is not realistic enough to be helpful.
- The purpose of scenario analysis is not to identify the exact conditions of each scenario; it just needs to approximate them to provide a plausible idea of what might happen.
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Instructional Scenarios
- Focuses on a scenario in a language arts class in a suburban American high school (http://epltt.coe.uga.edu/index.php?
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Introduction to inference for numerical data
- In this chapter, we encounter several new point estimates and scenarios.
- Chapter 6 will introduce scenarios that highlight categorical data.
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Centrality of experience
- The instructor in the scenario used the questionnaires to check the learners' frame of mind (centrality of experience) that is constructed from their experiences.
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Introduction to binomial distribution (special topic)
- But there are three other scenarios: Brittany, Caroline, or Damian could have been the one to refuse.
- These four scenarios exhaust all the possible ways that exactly one of these four people could refuse to administer the most severe shock, so the total probability is 4×(0.35)1(0.65)3 = 0.38.
- Verify that the scenario where Brittany is the only one to refuse to give the most severe shock has probability (0.35)1(0.65)3.
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Hypothesis testing for two proportions exercises
- In one scenario the woman was dressed "provocatively" and in the other scenario the woman was dressed "conservatively".
- The table below shows how many restaurant diners were present under each scenario, and whether or not they intervened.
- (b) Calculate the observed difference between the rates of intervention under the provocative and conservative scenarios: $\hat{p}_{pr} \hat{p}_{con}$.
- (b) Calculate the observed difference between the yawning rates under the two scenarios.
- The data provide strong evidence that people react differently under the two scenarios.
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Responding to Uncertainty in Strategic Planning
- Uncertainty exists when there is more than one possible outcome; it is best managed using scenario-planning tools.
- Instead of just following trend lines, scenarios focus on the collective impact of many factors.
- Scenario planning helps to understand how the various strands of a complex tapestry move if one or more threads are pulled.
- Scenario planning starts by separating things believed to be known, at least to some degree, from those considered uncertain or unknowable.
- Scenario planning for business was originally established by Royal Dutch/Shell, which has used scenarios since the early 1970s as part of its process for generating and evaluating strategic options.
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Budgets, forecasts, and alternative scenarios
- Another word for such forecasts is scenarios.
- A manager might ask for an alternative scenario where sales increase by 12 per cent and costs increase by 9 per cent and another scenario where sales decrease by 3 per cent and costs increase by 1 per cent.
- The Wall Street Journal had a story recently on how businesses use scenarios for planning purposes.
- "The experience highlights the value of scenario planning, or preparing responses to imagined changes in conditions.
- "Scenario planning is a tool for learning" and making better decisions. " (Wall Street Journal 2009).
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Risks Involved in Capital Budgeting
- Another method is scenario analysis, which involves the process of analyzing possible future events by considering alternative possible outcomes.
- For example, a financial institution might attempt to forecast several possible scenarios for the economy (e.g., rapid growth, moderate growth, slow growth), and it might also attempt to forecast financial market returns (for bonds, stocks, and cash) in each of those scenarios.
- It might further seek to determine correlations and assign probabilities to the scenarios.
- The institution can also calculate the scenario-weighted expected return (which figure will indicate the overall attractiveness of the financial environment).
- It may also perform stress testing, using adverse scenarios.