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Author Question: Which of the following is true regarding the use of simulation? (Read 20 times)

stock

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Question 1

Which of the following is true regarding simulation?
◦ It cannot handle large and complex problems.
◦ Simulation can only be done by computer.
◦ If an analytical model can't solve a problem, neither can a simulation.
◦ Monte Carlo simulation requires the use of random numbers.
◦ Simulation models are inexpensive.

Question 2

Which of the following is true regarding the use of simulation?
◦ It is always very easy to build a simulation model.
◦ Few constraints, if any, have to be considered.
◦ It always yields optimum solutions.
◦ It allows time-compression in testing major policy decisions.
◦ It is very inexpensive to use a simulation model.


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Marked as best answer by stock on Dec 3, 2019

katkat_flores

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stock

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Reply 2 on: Dec 3, 2019
Excellent


gcook

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Reply 3 on: Yesterday
Great answer, keep it coming :)

 

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