Common Features of Simulations--Generating Values from Probability Distributions, Maintaining Records

question 42

Multiple Choice

Common features of simulations--generating values from probability distributions, maintaining records, recording data and summarizing results--led to the development of

• A) Excel and Lotus.
• B) BASIC, FORTRAN, PASCAL, and C.
• C) GPSS, SIMSCRIPT, SLAM, and Arena
• D) LINDO and The Management Scientist

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Definitions:

State of Nature

A term referring to the possible outcomes or conditions in decision making that are not under the control of the decision-maker.

Federal Reserve Regulations

Rules set by the Federal Reserve to govern banks and other financial institutions, aiming to ensure the stability and integrity of the financial system.

Food and Drug Administration Regulations

A set of guidelines and legal standards established by the FDA to ensure the safety and effectiveness of pharmaceuticals, food products, medical devices, and cosmetics.

Malpractice Suit

A legal case brought against a healthcare provider for negligence or failure to meet accepted standards of care, resulting in harm to a patient.