Which of the Following Is a Common Simulation Technique

question 22

Multiple Choice

Which of the following is a common simulation technique?

• A) ANOVA
• B) Monte Carlo method
• C) stratified sampling
• D) multistage sampling

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Definitions:

Operating Plan

A detailed outline of a company's goals, strategies, and projected financial actions within a specific period, usually part of the overall business plan.

Planning Assumption

An assumption about the future on which a business plan is based. The assumption must be reflected in the firm’s financial projections by calculating the specific financial statement figures it implies.

Financial Statement

A formal record of the financial activities and position of a business, person, or other entity, typically detailed in an income statement, a balance sheet, and a statement of cash flows.

Strategic Plans

Long-term, forward-looking approaches and plans created by organizations to achieve major goals and objectives.