The Main Reason That a Large Number of Replications of a Simulation

question 1

Multiple Choice

The main reason that a large number of replications of a simulation would be made is:

• A) computers are usually used, and they can easily handle a large number of replications.
• B) it is part of the scientific approach.
• C) it is a form of sampling, and large samples give more accurate results than small samples.
• D) it is more likely to provide optimal answers.
• E) None of the answer choices is correct.

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Definitions:

Labor Market

A marketplace where workers find paying work, employers find willing workers, and wage rates are determined.

Employee Benefits

Non-wage compensation provided to employees in addition to their normal wages or salaries, such as health insurance, pensions, and paid vacations.

Wage Rate

The amount of money paid to an employee per unit of time, usually expressed per hour or per year.

Wage Disparity

The difference in wages earned by different groups of people, often highlighted by gaps across genders, ethnicities, or education levels.