Monte Carlo Simulation Is Based on Assigning a ________ and Analyzing

question 71

Multiple Choice

Monte Carlo simulation is based on assigning a ________ and analyzing the results.

• A)single value to each of a project's variables
• B)wide range of values to multiple variables simultaneously
• C)wide range of values to a single variable
• D)narrow range of values to two variables simultaneously
• E)narrow range of values to a single variable

---

Definitions:

Factory Overhead

Indirect costs associated with manufacturing, including utilities, maintenance, and depreciation of production facilities, not directly attributed to a specific product.

Product Cost

The total expense incurred to create and manufacture a product, including direct labor, materials, and overhead.

Maintenance

The process of preserving equipment, systems, and buildings in proper working condition through routine checks, repairs, and updates.

Factory Equipment

Factory equipment encompasses the machinery and tools used in manufacturing processes to produce goods.