You Are Reviewing a Simulation Model and Find That the Analyst

question 60

Multiple Choice

You are reviewing a simulation model and find that the analyst who prepared the model used the formula =NORM.INV(RAND() ,100,5) to generate the waiting time at a restaurant (in seconds) . Which of the following assumptions did the analyst make about the waiting time?
I. The minimum waiting time is 100.
II. The average (mean) waiting time is 100.
III. The waiting time is normally distributed.

• A) I only
• B) II only
• C) III only
• D) I and II only
• E) II and III only

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Definitions:

Marketing

Entails the activities, processes, and strategies for promoting, selling, and distributing a product or service, including market research, advertising, and sales.

Common Purpose

A shared goal or mission that unites a group or organization, driving collective action and collaboration.

Manageable Components

Elements of a project or system that can be controlled or handled effectively to ensure successful completion or operation.

Organising Function

A management task involving the arrangement of resources and tasks to achieve objectives efficiently.