Multiple Choice
Simulation should not be applied in all cases because it
A) Requires considerable talent for model building & extensive computer programming efforts
B) Consumes much computer time
C) Provides at best approximate solution to problem
D) All of the above
Correct Answer:

Verified
Correct Answer:
Verified
Q3: Markov analysis is useful for:<br>A) Predicting the
Q4: State transition probabilities in the Markov chain
Q5: Special simulation languages are useful because they<br>A)
Q6: If a matrix of transition probability is
Q7: In a matrix of transition probability, the
Q9: While assigning random numbers in Monte Carlo
Q10: The purpose of using simulation technique is
Q11: Simulation is defined as<br>A) A technique that
Q12: The transition matrix elements remain positive from
Q13: While calculating equilibrium probabilities for a Markov