A(n) __________ Is an Input to a Simulation Model Whose

question 34

Multiple Choice

A(n) __________ is an input to a simulation model whose value is uncertain and described by a probability distribution.

• A)identifier
• B)constraint
• C)random variable
• D)decision variable

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Definitions:

Pension Expense

The cost to a company for maintaining a defined benefit pension plan, including service cost, interest cost, expected return on plan assets, and any amortization of past service costs.

Pension Funding

The process of accumulating financial resources to cover obligations for pension plans, ensuring funds are available for retirement benefits.

Accumulated Benefit Obligation

The actuarial present value of all future pension benefits earned to date, based on current salary levels, without assuming future salary increases.

Pension Liability

The financial obligation a company has to provide its employees with pension benefits, representing the difference between the total amount due to retirees and the amount of funds the company has set aside to cover these costs.