A Steady State Results When a Simulation Is Repeated Enough

question 3

True/False

A steady state results when a simulation is repeated enough times that the random variable being investigated reaches the expected value or average demand.

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Definitions:

Beta Distribution

A family of continuous probability distributions defined on the interval [0, 1] used to model a variety of variables that are bounded on both sides.

Project Management

The application of knowledge, skills, tools, and techniques to project activities to meet the project requirements.

Expected Activity Times

The average durations that tasks or activities are anticipated to take, often used in project management and planning.

CPM Network

A project management tool that uses Critical Path Method (CPM) for planning, scheduling, and controlling complex projects by identifying critical and non-critical tasks.