Which of the following is true of simulation optimization using ...

[appyboo]

Which of the following is true of simulation optimization using Analytic Solver Platform (ASP)?
 a. It is computationally simple and cheap.
  b. It can be executed in a very short time.
  c. It is an iterative process.
  d. It guarantees an optimal solution.

Question 2

According to the ___________, the sum of independent random variables can be approximated by a normal probability distribution.
 a. what-if analysis
  b. central limit theorem
  c. simulation optimization approach
  d. discrete-event simulation method

[tennis14576]

Answer to Question 1

c
RATIONALE: In general, ASP searches for optimal values of the decision variables by iteratively adjusting the values of the decision variables. Solving a simulation optimization model can be very computationally expensive and take a long time. Furthermore, ASP cannot guarantee an optimal solution to a simulation optimization model.

Answer to Question 2

b
RATIONALE: According to the central limit theorem, the sum of independent random variables can be approximated by a normal probability distribution.

[appyboo]

Excellent

[bdobbins]

Great answer, keep it coming