Simulation is often viewed as the technique of last resort because it can be applied to situations when there is no applicable quantitative model.

Name: Simulation is often viewed as the technique of last resort because it can be applied to situations when there is no applicable quantitative model.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Simulation is often used when traditional analytical models are not feasible, allowing for experimentation and analysis in complex systems where no existing quantitative model applies.

Simulation Is Often Viewed as the Technique of Last Resort