In Order to Verify a Simulation Model

question 8

Multiple Choice

In order to verify a simulation model,

• A)compare results from several simulation languages.
• B)be sure that the procedures for calculations are logically correct.
• C)confirm that the model accurately represents the real system.
• D)run the model long enough to overcome initial start-up results.

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Definitions:

Credit Customer

A customer who purchases goods or services on credit, agreeing to pay at a later specified date.

Expense

Money spent or cost incurred in an entity's efforts to generate revenue.

Asset

Resources owned by a business or individual that have economic value or future benefit.

Liability Account

A liability account records the obligations or debts a company owes to others, such as loans, accounts payable, and mortgages.