One of the Advantages of Simulation Is That

question 91

Multiple Choice

One of the advantages of simulation is that

• A) it is much less expensive than a mathematical solution
• B) it always generates a more accurate solution than a mathematical solution
• C) the policy changes may be tried out without disturbing the real-life system
• D) model development is less time consuming than for mathematical models
• E) model solutions are transferable to a wide variety of problems

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Definitions:

Subject-matter Jurisdiction

The jurisdiction of a court to adjudicate certain types of cases or those concerning specific topics.

Restatement (Second)

is a collection of volumes that articulate the general principles of American law, especially within specific areas such as contracts or torts, aimed at clarifying and simplifying the law.

Voidable Contracts

Agreements that are valid and enforceable at the outset but can be declared void by one of the parties due to certain conditions, such as fraud or coercion.

Reasonable Manner

Conducting oneself in a way that a prudent person would consider fair and appropriate under the circumstances.