The Manager of a Branch Bank Wants to Build a Simulation

question 2

Multiple Choice

The manager of a branch bank wants to build a simulation model of the lobby operation to reduce the waiting time of her customers.The number of customers arriving at any point of time is an example of

• A) a decision variable.
• B) an uncontrollable variable.
• C) a time-compressed variable.
• D) a dependent variable.

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Definitions:

Consumption Tax

A consumption tax is a tax on the purchase of goods or services, levied at the point of sale, aimed at reducing consumption and raising revenues for governments.

Incentive

A factor, either monetary or non-monetary, that motivates individuals or entities to behave in a certain way.

Tax Evasion

The illegal practice of not paying taxes by individuals or businesses through various means, including underreporting income or inflating deductions.

Tax Avoidance

Tax avoidance involves legally planning one's financial affairs to minimize tax liability within the confines of the law.