The Manager of a Branch Bank Wants to Build a Simulation

question 6

Multiple Choice

The manager of a branch bank wants to build a simulation model of the lobby operation to reduce the waiting time of her customers. The number of customers waiting in line at any point of time is an example of a(n) :

• A) decision variable.
• B) dependent variable.
• C) uncontrollable variable.
• D) time-compressed variable.

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Definitions:

Hippocampus

A major component of the brain involved in memory formation and spatial navigation, located in the medial temporal lobe.

Memory Function

The processes involved in encoding, storing, and retrieving information.

Hindsight Bias

The tendency to believe, after an event has occurred, that one would have foreseen or predicted the outcome.

Egocentric

Having or regarding the self or the individual as the center of all things.