An advantage of simulation as opposed to optimization is that.
A. Several options of measure of performance can be examined
B. Complex real-life problems can be studied
C. It is applicable in cases where there is an element of randomness in a system
D. All of the above
Answer: Option D
Solution(By Examveda Team)
An advantage of simulation as opposed to optimization is that Several options of measure of performance can be examined, Complex real-life problems can be studied and It is applicable in cases where there is an element of randomness in a system.This Question Belongs to Management >> Operations Research
A. Is possible when the variables value is known
B. Reduces the scope of judgement & intuition known with certainty in decision-making
C. Require the use of computer software
D. None of the above
A. Must be deterministic
B. Requires computer aid for its solution
C. Represents data in numerical form
D. All of the above
A physical model is example of.
A. An iconic model
B. An analogue model
C. A verbal model
D. A mathematical model
The qualitative approach to decision analysis relies on.
A. Experience
B. Judgement
C. Intuition
D. All of the above
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