Consider the Following Frequency of Demand and Random Numbers Random Numbers: 0

question 64

Multiple Choice

Consider the following frequency of demand and random numbers:
$$\begin{array}{l}\begin{array} { c c } &\text { Relative }\\\text { Demand } & \text { Frequency } \\\hline 0 & 0.15 \\1 & 0.30 \\2 & 0.25 \\3 & 0.15 \\4 & 0.15\end{array}\end{array}$$ Random numbers: 0.13, 0.81, 0.53.
-If the simulation begins with the first random number, the simulated value for demand would be:

• A) 0
• B) 1
• C) 2
• D) 3

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Definitions:

Financial Management

The practice of planning, directing, and controlling financial activities such as procurement and utilization of funds of an enterprise.

HR Management

The practice of recruiting, managing, and developing an organization's employees to maximize their performance.

Operations Management

The administration of business practices to create the highest level of efficiency possible within an organization, focusing on converting materials and labor into goods and services as effectively as possible.

Customer Relationship Management

A strategy for managing an organization's interactions with current and potential customers using data analysis about customers' history.