Which of the Following Is Characteristic of Monte Carlo Simulation

question 17

Multiple Choice

Which of the following is characteristic of Monte Carlo simulation?

• A)Results are usually not valid,but provide managers with an approximation.
• B)Time compression is not possible using this technique.
• C)Statistical sampling is used to create outcomes for many trials.
• D)Computer packages such as Simquick and Arena can show on-screen graphics of customers moving through the system or inventory accumulation.

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Definitions:

Functionalist Sociologists

study society from a functionalist perspective, focusing on how various social institutions and processes function to maintain societal stability and equilibrium.

Cultural Reforms

Changes and improvements made within a society to alter its cultural practices, norms, and institutions, often aiming at social progress.

Nuclear Family

A family unit consisting of two parents and their children living together, considered the smallest and fundamental societal group.

Married-Couple Family

A family structure consisting of two individuals in a legally recognized marriage, with or without children.