1. Explain the difference between a point estimator and a parameter estimator. 2. What are goodness-of-fit tests? What is their role in simulation? 3. How should the ability of the model to predict future behaviour of the system be validated? What are the statistical tests for this purpose? What are the inputs and outputs of such tests? 4. Explain the difference between goodness-of-fit tests and statistical tests for validating input-output transformation. 5. Suppose that the simulation results for the average traveling time of a forklift per replication are given in table below: Table 1: Summarized simulation results for traveling time of a forklift Replication number Average traveling time of the forklift (hour) 5 2 5 3 9 4 6 Suppose that the standard deviation of the distribution of traveling time of the forklift is not known. Calculate a 90 percent confidence interval for the traveling time of the forklift. (Hint: Using the guidelines in the lecture slides, you can find the t-value for 90 percent confidence interval from this link: https://www.sjsu.edu/faculty/gerstman/StatPrimer/t-table.pdf) Suppose that we know that the standard deviation of the distribution of traveling time of the forklift is 2 hours. Calculate a 90 percent confidence interval for the traveling time of the forklift. (Hint: the z-value for 90 percent confidence interval is 1.645) Please note the following remarks: You can answer the questions by checking Lectures 10, 11, 12 and PS 12. Kindly do not share your answers or (solution examples) with your classmates. . Please include detailed explanations in your answers