The Idea Behind Simulation Is Threefold: (1) to Imitate a Real-World

question 76

True/False

The idea behind simulation is threefold: (1) to imitate a real-world situation mathematically, (2) then to study its properties and operating characteristics, and (3) finally to draw conclusions and make action decisions based on the results of the simulation.

---

Definitions:

Major Expenditures

Large amounts of money spent on significant aspects of business operations, such as purchasing assets, research and development, or significant repairs.

Custody

The protective care or guardianship of someone or something, often used in the context of the legal guardianship of a child or the care of assets.

Records Keeping

The practice of maintaining and organizing records and documents, often for compliance and operational purposes.

Cash Drawer

A container or compartment within a cash register where cash from transactions is kept, often used in retail settings.