Simulation optimization helps
A)in identifying the constraints of the situation.
B)to find good decisions in highly complex and highly uncertain settings.
C)in assigning values to outcomes.
D)to model certainty using optimization techniques.

Question

Quizplus · Accepted Answer

Simulation optimization is a technique that combines simulation modeling with optimization techniques to find the best decision in highly complex and uncertain settings. It generates a set of potential solutions and tests them against a set of performance criteria which makes it easier to identify good decisions. While it may consider constraints in the process, its main goal is to find the optimal solution. Assigning values to outcomes and modeling certainty are not the primary objectives of simulation optimization.

Simulation Optimization Helps