Common Features of Simulations--Generating Values from Probability Distributions,maintaining Records,recording Data

question 62

Multiple Choice

Common features of simulations--generating values from probability distributions,maintaining records,recording data and summarizing results--led to the development of

• A)Excel and Lotus.
• B)BASIC, FORTRAN, PASCAL, and C.
• C)GPSS, SIMSCRIPT, SLAM, and Arena
• D)LINGO and The Management Scientist

---

Definitions:

NPV

A financial analysis method that calculates the difference between the present value of cash inflows and outflows over a period of time, used to assess the worth of investments or projects.

Mutually Exclusive

Events or projects that cannot both occur at the same time, where the selection of one excludes the possibility of the other.

Independent

Not influenced or controlled by others in matters of opinion, conduct; not depending on another's authority.

Return on Assets

A financial ratio that shows the percentage of profit a company earns in relation to its overall resources (total assets).