A Simulation Model

question 17

Multiple Choice

A simulation model:

• A) describes operating characteristics with known equations.
• B) replicates the service of customers and keeps track of characteristics such as the number in line, the waiting time, and the total time in the system.
• C) prescribes what should be done in a situation.
• D) finds the optimal solution to a problem without having to try each alternative.

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Definitions:

Vroom-Jago Leadership Model

A contingency model that helps leaders determine the appropriate level of employee participation when making decisions.

Junior Executives

Lower-level managerial employees who are responsible for assisting in the planning, direction, and coordination activities within organizations.

Ethics Competency

The capability to identify, assess, and act upon ethical dilemmas and issues according to moral principles in professional settings.

Survival of the Bank

Strategies and measures adopted by a financial institution to continue its operations and remain solvent during challenging times.