The purpose of using simulation technique is to.
A. Imitate a real-world situation
B. Understand properties & operating characteristics of complex real-life problems
C. Reduce the cost of experiment on a model of real situation
D. All of the above
Answer: Option D
Solution(By Examveda Team)
The purpose of using simulation technique is to Imitate a real-world situation, Understand properties & operating characteristics of complex real-life problems and Reduce the cost of experiment on a model of real situation.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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