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:

Problem Solving

The act or process of identifying a challenge or obstacle and finding solutions or methods to overcome it.

Envision

The act of imagining or anticipating something that has not yet occurred.

Risky Decision Making

The process of making choices under conditions of uncertainty, often involving potential negative outcomes.

Conditions of Uncertainty

Conditions of uncertainty are situations in which there is a lack of sureness about what might happen, often making decision-making difficult.