Large complicated simulation models are appreciated because.
A. Their average costs are not well-defined
B. It is difficult to create the appropriate events
C. It is difficult to create the appropriate events
D. All of the above
Answer: Option C
Solution(By Examveda Team)
Large complicated simulation models are appreciated because It is difficult to create the appropriate events. A simulation model has ‘entities’ (e.g. machines, materials, people, etc.) and ‘activities’ (e.g. processing, transporting, etc.). It also has a description of the logic governing each activity.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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