Despite the power of simulation,less than 20% of the largest U.S.corporations use simulation in corporate planning.
Correct Answer:
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Q1: Simulation models are limited to using standard
Q3: Simulation models are useful for economic order
Q6: The Monte Carlo simulation was developed as
Q7: A major advantage of using simulation techniques
Q8: The probability of selecting any random number
Q12: Simulation models are designed to generate optimal
Q13: Simulation is very flexible.Thus, its solutions and
Q14: Simulation can use any probability distribution that
Q15: While it is powerful,simulation is not considered
Q18: If we are using a Monte Carlo
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