The Process of Generating Probabilistic Inputs and Computing the Value

question 5

Multiple Choice

The process of generating probabilistic inputs and computing the value of the output is called

• A)simulation.
• B)verification.
• C)validation.
• D)implementation.

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Definitions:

Outside Supplier

An external entity that provides goods or services to a business, often used in the context of manufacturing or production.

Investment Center

A division or unit of a business that is responsible for its own revenues, expenses, and investments, and is evaluated based on its return on investment.

Performance Evaluation

The process of assessing and reviewing an employee's or organization's work performance and outcomes against predefined objectives.