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:

Line Extension

A strategy where a company expands its existing product line into new variations or flavors to meet different customer needs or to capture a wider market.

Recoup Investment

The process of regaining the money that has been spent on an investment, usually via profits generated from the investment.

Brand Relevant

The degree to which a brand is perceived as important and meaningful to its target audience's needs and preferences.

Brand Equity

The value that a brand adds to a product or service based on consumers' perceptions, recognition, and loyalty.