A ___________ Uses Repeated Random Sampling to Represent Uncertainty in a Model

question 28

Multiple Choice

A ___________ uses repeated random sampling to represent uncertainty in a model representing a real system and that computes the values of model outputs.

• A)Monte Carlo simulation
• B)what-if analysis
• C)deterministic model
• D)discrete event simulation

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Definitions:

Customer Satisfaction

The measure of how products or services supplied by a company meet or surpass customer expectation.

Annual Spend

The total amount of money a company or individual spends over the course of a year, often used in the context of budgeting and financial planning.

Service Organizations

Businesses that primarily offer intangible products, such as expertise or labor, rather than physical goods.

Purchased Materials

Items or components procured from external sources used in the manufacturing process or for company operations.