You Are Reviewing a Simulation Model and Find That the Analyst

question 62

Multiple Choice

You are reviewing a simulation model and find that the analyst who prepared the model used the formula =NORM.INV(RAND() ,50,3) to generate the cost of a product. Which of the following assumptions did the analyst make about the product cost?
I. The minimum cost is 50.
II. The average (mean) cost is 50.
III. The cost is uniformly distributed.

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

Understand the role and impact of Transaction Processing Systems (TPS) in business operations.

Recognize different types of enterprise systems (FAIS, CRM, ERP, SCM) and their functionalities.

Comprehend the integration and interaction between various business systems and processes.

Distinguish between interorganizational, intraorganizational, and other classifications of systems.

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Definitions:

Hip

A region on each side of the human body where the thigh bone (femur) joins the pelvis, forming a ball-and-socket joint.

Genetic Background

An individual's unique set of genes that contributes to their physical and physiological traits inherited from their parents.

Subcutaneous Fat

The layer of fat located just beneath the skin, which serves as insulation and energy storage for the body.

Skinfold Measurement

A method for estimating body fat percentage by measuring the thickness of skinfolds at various body sites.