The Outcome of a Simulation Experiment Is A(n)

question 38

Multiple Choice

The outcome of a simulation experiment is a(n)

• A)objective function.
• B)probability distribution for one or more output measures.
• C)single number.
• D)what-if scenario.

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Definitions:

Insourcing

Job creation through foreign direct investment.

Foreign Direct Investment

Investment made by a company or individual in one country in business interests in another country, in the form of either establishing business operations or acquiring business assets.

Market-Entry Strategies

Plans developed by businesses to enter new markets and establish a presence in them.

Global Sourcing

The purchase of materials or services from around the world for local use.