Select the least accurate statement regarding simulation. In a simulation, correlation between two random input variables may change the mean of an output, but it will not affect the variability and shape of an output distribution. O Simulation can be used to model the effects of uncertainty on system performance. @Risk is an example of an Excel add-in with simulation capability. O It is possible to create simulation models in Excel without Excel add-in software. O The accuracy of simulation statistics improves as the number of simulation trials (or iterations) increases.
Select the least accurate statement regarding simulation. In a simulation, correlation between two random input variables may change the mean of an output, but it will not affect the variability and shape of an output distribution. O Simulation can be used to model the effects of uncertainty on system performance. @Risk is an example of an Excel add-in with simulation capability. O It is possible to create simulation models in Excel without Excel add-in software. O The accuracy of simulation statistics improves as the number of simulation trials (or iterations) increases.
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter11: Simulation Models
Section: Chapter Questions
Problem 55P: The DC Cisco office is trying to predict the revenue it will generate next week. Ten deals may close...
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