A number is a random number between 0 and 1 if it is generated in such a way that every possible number within this interval has an equal chance of occurring.
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Q1: Simulation is often the first choice of
Q2: Random observations can be generated in Excel
Q3: A simulation model includes a description of
Q5: Simulation is basically an optimizing technique.
Q6: A stochastic system is one that evolved
Q7: A simulation clock keeps track of how
Q8: A simulation model is validated if it
Q9: Simulation models are fairly easy to use
Q10: Simulation enables a decision maker to experiment
Q11: One purpose of running experiments on a
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