Which of the Following Is True Regarding Simulation

question 48

Multiple Choice

Which of the following is true regarding simulation?

• A) If an analytical model can't solve a problem, neither can a simulation.
• B) Simulation can only be done by computer.
• C) Monte Carlo simulation requires the use of random numbers.
• D) Simulation models are inexpensive.
• E) It cannot handle large and complex problems.

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Definitions:

Comparative Advantage

The ability of an individual or country to produce a good or service at a lower opportunity cost than another producer, supporting international trade.

Automobiles

Self-propelled vehicles designed primarily for passenger transportation.

Coffee

A beverage made from roasted and ground coffee beans, widely consumed globally and known for its stimulating effect due to caffeine.

Comparative Advantage

The ability of an entity to produce a good or service at a lower opportunity cost than others, allowing for beneficial trade.