Which of the Following Statements in Regard to Simulation Is

question 33

Multiple Choice

Which of the following statements in regard to simulation is false?

• A)Simulation allows managers to evaluate many aspects of the risk associated with a project.
• B)Simulation typically involves results from thousands of runs in the computer.
• C)Specifying the simulation model takes a small amount of time as the computer selects specific values from the distribution of each of the variables.
• D)None of the given options.

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Definitions:

Product Line

A group of related products under a single brand sold by the same company.

Product Mix

The combination of all the products a company sells.

Marketing Mix

A framework used by marketers consisting of the four Ps: Product, Price, Place, and Promotion.

Service

Intangible activities or benefits that an entity provides to consumers, which do not result in ownership of anything physical.