Excel can only be used to simulate systems that can be represented by continuous random variables.
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Q8: Simulations should always be started with an
Q9: When using Excel to simulate a system,
Q10: Random numbers are equally likely to occur.
Q11: Monte Carlo is a technique for selecting
Q12: Random numbers generated by a mathematical process
Q14: Simulation applies mathematical models to determine optimal
Q15: Random numbers are typically generated on the
Q16: Developing the cumulative probability distribution helps to
Q17: A long period of real time can
Q18: In Excel the VLOOKUP function is used
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