Multiple Choice
You are reviewing a simulation model and find that the analyst who prepared the model used the formula =NORM.INV(RAND() ,50,3) to generate the cost of a product. Which of the following assumptions did the analyst make about the product cost?
I. The minimum cost is 50.
II. The average (mean) cost is 50.
III. The cost is uniformly distributed.
A) I only
B) II only
C) III only
D) I and II only
E) II and III only
Correct Answer:
Verified
Correct Answer:
Verified
Q57: In order to generate more accurate results
Q58: Service times at a doctor's office take
Q59: Note: This question requires the use of
Q60: You are reviewing a simulation model and
Q61: A simulation model is validated if it
Q63: A Data Table can be used to
Q64: Which of the following would not be
Q65: Computer simulation is a useful tool because
Q66: You have been asked to simulate the
Q67: Which of the following is not a