How Should One Determine Which RNGs to Employ in a Spreadsheet

question 58

Multiple Choice

How should one determine which RNGs to employ in a spreadsheet simulation model?

• A) Use the Analytic Solver Platform gallery and pick a distribution.
• B) Generate thousands of samples and compare the resulting histogram to ensure the distribution is correct.
• C) Solve the deterministic model repeatedly and use Analytic Solver Platform distribution fitting tools.
• D) The distributions selected should represent the underlying pool of values expected to occur.

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Definitions:

Monopolist

An individual or entity that has exclusive control over the production and selling of a particular good or service.

Deadweight Loss

The decrease in economic effectiveness due to the inability to achieve or the unachievable status of market equilibrium for a specific good or service.

Marginal Cost

An elevation in the cumulative expense resulting from manufacturing one more unit of a product or service.

Deadweight Loss

A decrease in economic efficiency resulting from the failure to reach equilibrium in the market for a good or service.