Which of the Following Statements Is INCORRECT Regarding the Disadvantages

question 50

Multiple Choice

Which of the following statements is INCORRECT regarding the disadvantages of simulation?

• A) Each simulation run only provides a sample of how the real system will operate.
• B) The summary of the simulation data only provides estimates about the real system.
• C) The process of developing a simulation model of a complex system can be time-consuming.
• D) The larger the number of probabilistic inputs a system has, the less likely a simulation will provide the best approach for studying the system.

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Definitions:

Underestimating Cost

The act of calculating or predicting a cost to be lower than it eventually turns out to be.

Personally Liable

The legal responsibility of an individual to fulfill a debt or obligation from their own assets.

Partnership Debt

Financial obligations for which all partners in a partnership are jointly and severally liable.

New Ovens

Recently manufactured or acquired cooking appliances designed for baking, heating, or drying food.